Comment by: Anonymous. Posted 13 years ago [2011-01-06 18:04:15]

Considering all the SIV litigation out there he can be certain that all the lawyers will be buying the book. That's a few thousand pounds. Maybe he's angling to be expert witness? But he's more likely to be a fact witness. Borrowing short and lending long works great if you have a sovereign backing you (e.g., banks) but not so great if all you have is a triple-A.

Comment by: Anonymous. Posted 13 years ago [2010-12-30 20:22:24]

I don't think Henry's book and opinion is entirely wrong - the technology itself is rather sound, but one needed to understand the potential downside. Just like any leverage investment vehicle, looking at the potential upside only leads to risk blindness that could indeed be fatal as proved. His (Henry) accounts on what transpired is worth reading in order know what not to do regarding any structured investment vehicle.. this product is likely to come back with different "outfit" when the economical environment stabilizes and de-levered, mark my words!

Comment by: Anonymous. Posted 13 years ago [2010-12-28 19:58:34]

like my risk manager used to say - good traders don't write books, they are too busy trading...

Comment by: Anonymous. Posted 13 years ago [2010-12-24 16:04:37]

Ummm. He was so wrong before... http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a5GuxhHxihhE&refer=bond

Comment by: Anonymous. Posted 13 years ago [2010-12-23 00:55:13]

I agree with the prior comment highlighting the roles of leverage and mismatch. SIVs are a good example of how "borrowing short and lending long" can be fatal.

Comment by: Anonymous. Posted 13 years ago [2010-12-22 14:33:25]

This was no Black Swan, at least as far as SIVs are concerned. Highly levered, mismatched vehicles have a habit of blowing up! Not worth Sterling112.5!

Comment by: Anonymous. Posted 13 years ago [2010-12-22 13:41:27]

at £112.5 is it a college text book?