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Old 10-11-2007, 10:20 AM
Phone Booth Phone Booth is offline
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Join Date: Aug 2006
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Default Re: 26-yr old credit derivatives trader posts 350MM+ loss

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What's that, a half a percent of market cap? Is that significant?

eastbay

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Consider that most financials are trading at 2+ times their book value. Half a percent of their market cap is likely more than 1 percent of their book value. And losing one percent of book value is indeed extremely significant.
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