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Non-Tech : Auric Goldfinger's Short List
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To: TRIIBoy who wrote (319)10/16/1998 11:52:00 AM
From: Sir Auric Goldfinger  Read Replies (1) of 19428
 
As Chairman of Armageddon Corner at the Princess Hotel, I presided, as par usual, over the doom and gloom. Rumor has it that LEH exposure that has not been exposed is the 95% loans to Manhattan real estate developers. B of A was also rumored to have exposure to hedge funds (later shown true in DE Shaw). Other financial exposure on the derivative side for banks and wire houses is huge (they have massive gamma exposure and still think that they are smart enough to dynamically hedge their delta). They could have their entire book value wiped out if the market were to fall 20 to 30% over a 1 month period.
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