I just read another attack on the use of “naked” CDS (credit default swaps). This use of the word is potentially misleading – maybe deliberately so, in order to tarnish CDS by association with naked shorting of ordinary securities. Naked … Continued
I once came across a definitional difference between financial speculation and gambling. This might seem rather trivial, or only of interest to some moral philosophers. But it was of great significance when the Chicago Board of Trade was trying to … Continued
Today’s FT has a special supplement on equity capital markets, the part of an investment bank that helps companies to raise equity capital. One article mentions the well known fact that IPO fees remain very much unchanged for year after … Continued