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15051594 Derivative

15051594 Derivative

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Published by Susheel Thakur

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Categories:Business/Law
Published by: Susheel Thakur on Feb 02, 2011
Copyright:Attribution Non-commercial

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02/02/2011

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someone
The Magic of Financial Derivatives
 
Financial Derivatives have been called..
.
. . .Engines of the Economy
. . .
Ala
n
Gr
eensp
a
n(
l
ong-time
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of 
 
t
h
e
F
ede
ral R
ese
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e)
. . .Weapons of Mass Destruction. . .
W
arr
en
Bu
ffett(
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of 
 
in
v
estment
 
u
nd
B
e
rk
s
h
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r
e
Ha
t
haway
)
 
Famous Calamities
1994:
Ora
nge
C
o
u
nt
y, CA
:
l
osses
 
of 
$
1
.7b
i
ll
ion
1995:
Bar
ings
Ba
n
k
:
l
osses
 
of 
$
1
.
5
b
i
ll
ion
1998:
L
ongTe
r
m
Ca
pit
alMa
n
a
gement (
L
T
CM
)
 h
edge
 
u
nd
,
fo
u
nded
by M
e
r
i
w
et
h
e
r,M
e
r
ton
a
nd
Sch
o
l
es
. L
osses
 
of 
 
o
v
e
r $2b
i
ll
ion

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