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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Zardoz who wrote (2593)	12/13/1998 7:14:00 AM
From: Bill Murphy	Read Replies (1) \| Respond to of 81092

Hutch, As Andy Smith, the legendary London gold trader said to me last week,"it takes two to make a market. 75% of what you say makes me mad, but I enjoy what you have to say". I have my opinion. You have yours. The proof will be in the pudding. The pudding ought to be warmed and on the table soon for all to taste. Bill

To: Zardoz who wrote (2593)	12/14/1998 9:20:00 AM
From: Cynic 2005	Read Replies (1) \| Respond to of 81092

<<Geeeshh, Nearly all derivatives over the counter are sold to hedge funds against secured assets. >> Is that so? LTCM derivative exposure was believed to be over $1 tril. Granted it is an exaggeration and let us moderate that number by 80% which still leaves it at $200 bil. Let alone the fact that LTCM does not have the assets to back that kind of exposure. Now tell me collectively how many investment bankers are capitalized to that extent? "Secured assets" in a highly leveraged and over exposed derivatives market is an oxymoron!