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To: Henry Volquardsen who wrote (73145)11/2/1999 9:44:00 AM
From: Defrocked  Read Replies (1) | Respond to of 86076
 
Just speculation on my part, but an audit
could have been triggered by an unusual
market event like gold jumping $50. Longer term
gold options could have been "mispriced" and thus
with hindsight reevaluated with a different or more
conservative volatility/forward carry structure.
Again, just a guess that seems coincidental with
market moves.



To: Henry Volquardsen who wrote (73145)11/2/1999 12:12:00 PM
From: John Pitera  Respond to of 86076
 
Henry,

Possibly the Gartner Guy does know the specifics and thus his statement is accurate. Otherwise, He could have been quoted incorrectly, or did not know what he was talking about.

I definitely do not know what transpired, but it is surely not the last time we will be hearing about one of these types of trading losses that is concealed for a while.

John


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