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Is There a Return Stream in Derivatives?
There have been some spectacular blow ups in the derivative space that were primarily institutional products over the last five years. Lots of big institutional investors fell for it for years and years and years, just without asking those questions about how can this return stream exist? Is this a plausible return stream given what trades are supposedly in folioan or not? Those questions are critical to to be asked, right? I think similarly, you saw structured tal risk selling out of firms like malachite and some of the canadian pensions like am co. Yes, that didn't work out so well.