Follow up question. If 'caps & collars' are such a useful tool of risk management & used in personal finance why were they not used to offset the huge risks in BNB's portfolio & position?
It surely could have been possible to create hedges : 1. Against falling asset prices; 2. Against a tightening of credit.
BNB
babcock & brown limited
interesting commentary article on bnb..., page-4
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