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Non-Tech : Derivatives: Darth Vader's Revenge
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To: Worswick who wrote (448)10/8/1998 10:14:00 AM
From: Henry Volquardsen  Read Replies (1) of 2794
 
Clark,

the Japanese banks have been involved in some of this trading but it is hard to tell how short they actually are. Remember Japanese bank credit in recent years has been as popular as Ken Starr at a DNC fundraiser. So these guys have been largely excluded from participating in some of the more speculative trades as they focus on using whatever liquidity they have to stay alive.

From my read of the rapidly changing situation is that it is hedge funds are burning brightly in the night. Banks are not taking big direct hits but are always open to collateral damage if they have to much exposure to the wrong people.

Also fwiw not al hedge funds are getting slammed. I know of a few who hit this move right on the head, they are small guys however.

Henry
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