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Money Mavericks, 2nd Edition
book

Money Mavericks, 2nd Edition

by Lars Kroijer
September 2012
Intermediate to advanced content levelIntermediate to advanced
248 pages
11h 17m
English
FT Publishing International
Content preview from Money Mavericks, 2nd Edition
A bad run
The Aker Yards debacle turned out to be the beginning of the end for
Holte Capital. Since it was an isolated incident unrelated to any market
trend, the stocks we were short as a hedge did not react negatively to
the profit warning. Consequently, our hedges could not mitigate the
loss at all. Despite this, we still felt that our protection against the
industry and wider market made our general hedging policy sensible.
Since we hedged against so many risks, we needed higher leverage in
our trades to increase our overall returns. But when the hedges failed
to work, we would be hit by the double pain of a non-working hedge
and ...
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Publisher Resources

ISBN: 9780273772507