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Strategies & Market Trends : Waiting for the big Kahuna

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To: James F. Hopkins who wrote (28777)	9/24/1998 6:09:00 PM
From: yard_man	Read Replies (1) of 94695

>>Long-Term Capital has trading contracts based on securities worth nearly $1 trillion, an investment banker close to the talks, told the Post. The fund, like many hedge funds, uses a complex computer-based strategy to invest in bonds and currencies from around the globe. Earlier this month, Long-Term Capital said it had lost $2.5 billion or 52 percent of its net assets, in trading so far this year. Market sources told the Post some of the losses were related to the Russian bond market and the defaulting of ruble currency hedges by Russian banks. <<

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