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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Thomas M. who wrote (16271)	8/27/1998 1:07:00 PM
From: IceShark	Read Replies (1) \| Respond to of 18056

Tom, I was somewhat confused by Drunkenmiller's comment on their Russian investments. I think he was saying that they marked-to-market the Russian stuff in their portfolio and that was 0. Then he later went on to say that they were quite leveraged and if the Russian market went south there was no way the hedge types as big as them could do anything to stop the bleeding. So, does that mean that their total max exposure was $2 bil and they wrote it all off, or that they wrote off their entire equity investment, but since they are levered there is a bunch more hanging out there? Just glad I don't have anything over there. -g- Regards, IS