Archive for November 15th, 2008
links for 2008-11-15
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If we have learned one thing from the current crisis, it is that trading through organised exchanges with centralised clearing is better than trading over-the-counter derivatives because trading derivatives increases co-dependence, complexity, counterparty risk, and reduces transparency. Said simply, when you buy a stock, your ownership does not depend on who you bought it from. If you buy a “synthetic stock” through a derivative, on the other hand, your ownership does depends on who you bought it from – and that dependence may prevail even after you sell the stock (if you sell through another bank).
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Engell river sin læser med i drabelige scener af 1990'ernes borgerliges borgerkrig: Der hades, dolkes, luskes, lures og bæres nag. At der også ædes og drikkes i frygtindgydende mængder, lader Engell skinne igennem. At der oveni hores eftertrykkeligt, må man nøjes med at erfare fra Engells uautoriserede kronikører.
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How caffeine created the modern world.
Angry Bears
Is it just me, or are the Swedish brown bears unusually active this year?