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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (1377)	9/18/2002 2:49:15 PM
From: Peach	Read Replies (1) \| Respond to of 57110

Quote from Jim Sinclair... "It should be keep in mind that JPM has been one of the key dealers in what is considered last risk insurance. If you, for instance, thought that Enron might not pay its bond debt during the decline in Enron shares, you could have purchased insurance against such a default from dealers like JPM. This so-called insurance was not insurance, it was a DERIVATIVE TRADE. This type of transaction is another problem waiting in the wings to potentially affect JPM negatively." financialsense.com