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Non-Tech : Derivatives: Darth Vader's Revenge
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To: Enigma who wrote (733)1/7/1999 9:35:00 AM
From: Worswick  Read Replies (1) of 2794
 
Ah, the barbatic relic. I meant to write barbaric... but barbatic sounds like it fits our times more closely. Dr. Pick where are you today now that we need your advice? Do you remember Dr. Franz Pick?

I was looking at some of the South African Gold stocks and they are very tempting but I worry about the social problems of South Africa and currency devaluations. You might look at what these stocks did in the early 1970's. I seem to remember they did very well but that, as I also recal, was in an era of rising old prices. Perhaps one should look at he 1933/34 period ofthe bank failur period here inteh us and then that is a more sobering view.

From the NY Times today,"....The derivatives market has boomed over the last decade to become one of the most lucrative activities on Wall Street. About $37 trillion worth of privately traded derivatives contracts are outstanding, up from $865 billion in 1987, according to the International Swap and Derivatives Association. That figure, however, represents the paper, or "notional," value of all of the underlying financial products used to create a derivatives contract. The actual exposure of most banks to the derivatives contracts they carry is only a small percentage of the paper value, in most cases well less than 1 percent of that amount".

My very best to you. Hope you are warm.

Clark


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