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"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Can you help answer these questions from other members on NexusFi?
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Could someone point me to a site that mentions the total amount of Greek CDs?
ISDA.org mentions a very small amount and I do not know if this is accurate.
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
quote According to Barclays Capital, the top two holders of Greek debt are National Bank of Greece, with 13.2bn euros ($17.5bn), and Eurobank EFG, which holds 7.3bn euros ($9.7bn).
Once the bond exchange is completed, those holdings will be worth less than half their current value, and if you include future interest payments, worth 70% less.
Outside Greece, French and German banks hold the most Greek debt."
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
“The vast majority of Greek CDS positions are hedges,” said one head of European credit trading at a US house. “Restructuring in a way that specifically won’t trigger CDS not only undermines the product – it eliminates the insurance participants have bought to protect themselves. In effect, they’re doubly hurting participants that did prudent risk management.
“One CVA [credit value adjustment] desk told me: ’We’re taking our Greek hedges off because we’re going to get screwed both ways: we’ll be forced to take haircuts and CDS won’t trigger so we lose out on the hedge. It’s the absolute worst outcome for us.’ And I’m sure they’re not the only ones thinking that.”
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter