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I read last week that some (smart shark) hedge funds have shorted the bank stocks, purchased CDS from them without the underlyings (nothing prevents you from doing that, effectively betting on ACME going belly up), and sometimes even shorted the MBS when markets allowed.

In other words, fredoiul cannot profit from this any longer, as people with deeper pockets than him and earlier access to information already have ;-)

Can the last politician to go out the revolving door please turn the lights off?

by Migeru (migeru at eurotrib dot com) on Wed Jul 4th, 2007 at 11:50:12 AM EST
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Fredouille can still give it a try, I just gave the recipe. But it is risky: as always, timing is critical, as if you short too early and wait you pay a lot for margin calls, and some stocks could benefit from (heresy !) ... a bailout !!

Pierre
by Pierre on Wed Jul 4th, 2007 at 11:59:23 AM EST
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