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Tina Vandersteel on Emerging-Country Debt (Podcast)
Masters in Business
Leverage
Hedge funds make sure documentation is air tight with respect to whatever they're trying to hedge. When russia defaulted and valued the rouble, those who hedged their ruble exposure in chicago found out that the hedge was worthless because it was a non deliverable currency. So we are very careful to make sure whatever asset we own, however the fixing mechanism is for that, lines up with our hedge.
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