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The Importance of Derivatives Education in the Global Financial Crisis
I was fortunate that a Canyon partner is we identified as a hedge, ironically, the big short trade. And so I ended up making about a billion and a half dollars when we were designing the size of the trade to protect against a $200 million long position. The Volcker rule on Wall Street introduced the idea that the street itself could no longer trade on a directional basis. For me that created an opportunity because I reverse engineered those products.