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Non-Tech : Derivatives: Darth Vader's Revenge
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To: Knighty Tin who wrote (248)9/28/1998 4:43:00 PM
From: Henry Volquardsen  Read Replies (3) of 2794
 
Michael,

The problem is that derivatives becomes a catchall phrase that covers to wide a spectrum of instruments. If a term covers everything from convertible bonds and CMOs to eurodollar futures to double no-touch knock-in digital quantos it loses any specific meaning and makes useless as a term. People have developed a tendency to call almost everything a derivative. FWIW a friend of mine who is a headhunter called me about a job in the mid 80s, he said the job was to manage a derivatives group. I told him I didn't know what derivatives were. He then pointed out that I had been dealing with them for about 10 years. All of a sudden someone just started calling these things derivatives.

Henry
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