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Non-Tech : LEH LEHMAN BROTHERS

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To: blankmind who wrote (270)9/28/1998 7:19:00 PM
From: john griffin  Read Replies (1) of 315
 
It appears that people are concerned about derivatives, off balance sheet liabilities. Rumor that LEH has derivative exposure that is under reported and over leveraged.
I hope the smart people running LEH are better than the experts at LTCM !! Whether the rumor is true or not, as long as enough people perceive a problem, then the price will be down.
People seem to be nervous of banks especially after LTCM, which may be the end of the problem or just the tip of the iceberg.
I did not like the derivative situation and got out of banks at the end of last year.
Good luck--John
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