Author, Andrew Sheldon
Global Mining Investing is a reference eBook to teach investors how to think and act as investors with a underlying theme of managing risk. The book touches on a huge amount of content which heavily relies on knowledge that can only be obtained through experience...The text was engaging, as I knew the valuable outcome was to be a better thinker and investor.
While some books (such as Coulson’s An Insider’s Guide to the Mining Sector) focus on one particular commodity this book (Global Mining Investing) attempts (and does well) to cover all types of mining and commodities.
Monday, January 28, 2008
I dont know about you - but the idea that one of the better managed derivatives players is lossing $US4.9 billion - thats reason for concern. That is one trader. The market is painting this situation as unique because this rogue trader had a history in the trading & backoffice areas, so was able to identify a loophole to cover his trades.
That is a nonsensical argument to me because:
1. It strikes me as well-known that the industry tends to monitors net positions
2. This guy took larger positions to offset his losses in an attempt to par back losses, and covered his losses with new positions to make them look ok on a net basis. I see no reason why that cannot happen at an institutional level, nor why the loophole would not be identified from office conversation.
I have long made the point that the fact that institutions only look at their net positions is a reason for great concern, though my focus is on the differing credit-worthiness of counterparties. It makes you wonder how many other traders are covering up at this point.
Andrew Sheldon www.sheldonthinks.com
You can view foreclosed properties listed for as little as $US10,000 in Japan thanks to depopulation and a culture that is geared towards working for the state. I bought foreclosed properties in Japan and now I reveal all in our expanded 350+page report. The information you need to know, strategies to apply, where to get help, and the tools to use. We even help you avoid the tsunami and nuclear risks since I was a geologist/mining finance analyst in a past life. Check out the "feedback" in our blog for stories of success by customers of our previous reports.
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