October 24, 2012 Sure, derivatives are bets. But they're also tools for getting around the tax code, accounting rules, and lots of other regulations.
October 17, 2012 I will tell you what a derivative is, but I will take a while to get there, and you may feel cheated. That is okay. If you want to understand derivatives, you must learn to live with uncertainty, and also with feeling cheated.
Not just an empty suit.
October 9, 2012 They're traveling money salesmen. This explains why many of them are so ornery so much of the time.
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