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I once asked the guy sitting next to me how many June Brent cargos there were (about 1995 ish).  He said roughly 50.  "and I own 80 of them".  He had a fun month with that squeeze play.  15 day Brent was such a stupid contract.

Not a market for widows and orphans.  But it's not like people just get to walk up and start punting.  The credit groups were paid very well to try to keep a handle on who  we had too much risk exposure with and to demand margin from the poorer credit risks.

by HiD on Wed Mar 26th, 2008 at 07:32:26 AM EST
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