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Reply to: Hedging Sterling
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Previously on "Hedging Sterling"
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I am pleased you have admitted to this debt. Paypal transfer will be fine.
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Originally posted by Dow Jones View PostJust give me your account no/sort code/address/dob and I'll sort it out straight away !
On a disk in a brown envelope with 24,999,999 others.
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Just your details
Just give me your account no/sort code/address/dob and I'll sort it out straight away !
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Not me
If it makes you happy, I can put a disclaimer to all my posts!
After seeing your 2nd post, you seem to have an over-simplified view of 'investment' banking. Most shareholders are in for the long run and - despite what you think - there is accountability.
Maybe new to here, but over 10 yrs investment banking exp (including a spell at UBS).
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Originally posted by Dow Jones View PostJudging by your other threads about the markets etc, apart from your complete lack of investment banking knowledge, you are generally not a born optimist, are you? Glass always half-full for you?
My view of the financial world might not be optimistic, but it is realistic.
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Lesson in securities
UBS to Sell Stakes After $10 Billion in Writedowns
By Elena Logutenkova (ANOTHER EXPERT)
I haven't got all day to explain to you how it works, but basically banks buy a package of AA/AB/etc-rated securitised loans. If they turn out to be junk, it's no more the banks' fault apart from a risk-averse strategy (more likely to do with the rating agencies) than if you bought dollars and found out they were worth a fraction of the value that you paid (as it so often happens).
Judging by your other threads about the markets etc, apart from your complete lack of investment banking knowledge, you are generally not a born optimist, are you? Glass always half-empty for you?
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Originally posted by Dow Jones View PostWatch out for Darling selling large quantities of gold from the BoE reserves - pretty much what his 'mentor' did when he took over as Chancellor!
(I don't know why I'm laughing - these jokers are in charge of our economy!)
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Originally posted by Dow Jones View PostNot at all - it's not junk and it's not sub-prime either. As an expert yourself, you should know what it was.
By Elena Logutenkova
Enlarge Image/Details
Dec. 10 (Bloomberg) -- UBS AG will write down U.S. subprime mortgage investments by $10 billion, the biggest such loss by a European bank, and replenish capital by selling stakes to investors in Singapore and the Middle East.
Europe's largest bank by assets plans to raise 13 billion Swiss francs ($11.5 billion) selling bonds that will convert into shares to Government of Singapore Investment Corp. and an unidentified Middle Eastern investor, Chairman Marcel Ospel said on a conference call with reporters today.
UBS scrapped a forecast for a fourth-quarter profit and may post its first full-year loss since the Zurich-based company was created through a merger a decade ago. The collapse of the U.S. subprime mortgage market has led to about $76 billion of losses and markdowns at securities firms and banks this year. UBS rose as much as 3.3 percent in Zurich trading after the company followed Citigroup Inc., the largest U.S. bank, in taking on strategic investors to bolster capital.
More: http://www.bloomberg.com/apps/news?p...ZqU&refer=home
I think this pretty much sums up who is expert here and who smells of threaded.
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Expert
Not at all - it's not junk and it's not sub-prime either. As an expert yourself, you should know what it was.
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Tell tale signs
Watch out for Darling selling large quantities of gold from the BoE reserves - pretty much what his 'mentor' did when he took over as Chancellor! Gold is always handy in times of crisis. Ask any Swiss bank, they know best.
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