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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 165.13+1.1%Nov 26 3:59 PM EST

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To: Jeff Vayda who wrote (15448)9/24/1998 10:04:00 AM
From: Jon Koplik  Read Replies (1) of 152472
 
Jeff - they were clearly using what I call "advanced techniques."

(Would you pay someone 15% or 20% of profits if all they did was either go long or short the long bond?)

They apparently got killed on "credit spreads" going the wrong way (for them, at least).

And, mortgage related securities start doing weird things with large changes in the overall level of interest rates.

Here, again, is the link for Bridge News (bond market stuff). Read it for a while, and then you can try to open up your own fund with a $90 billion bond portfolio.

news.bridge.com

Jon.
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