The Naked Truth - Big Kahuna a Myth Message Board

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To: John Pitera who wrote (73119)	11/2/1999 8:25:00 AM
From: Henry Volquardsen	Read Replies (1) of 86076

An official familiar with the inquiry said the bank believes the trader misstated the value of so-called forward contracts, or derivative financial instruments similar to futures contracts "it could happen to anybody," said Frank Schlier, vice president of financial services at Gartner Group huh? John as you know I made a living trading forwards for a couple of years. Currency forwards are about as straight forward as they come these days. I find it a bit hard to believe that something a bit funkier than old fashioned forward contracts wasn't involved. I've been playing guessing games with friends since yesterday trying to come up with possibilities. I have my suspicions. But I don't understand how someone could say it could happen to anybody unless you know exactly what happened.

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