Long-term swap

CFA General
#1

I did something yesterday I swore I would never do again. I went long diamonds and platinum and then immediately traded them for a position in a long-term swap. Gotta get the counterparty to sign one of them “Master Agreements”…

#2

congrats?

#3

congrats!

#4

Heartfelt congratulations Joey. May your counterparty’s gain not be AF’s loss! Need any tips on pricing that swap? http://infoproc.blogspot.com/2007/05/pricing-wall-street-marriage.html

#5

JD - are you covered under an ISDA?

#6

Let’s hope for a lifetime of dividends…

#7

wow, congrats! It’s always fun reading your posts, but this one was especially nice to read.

#8

Congrats!! It actually took me a while to figure out what you are talking about…

#9

Congratulations, Joey, and all the best to both of you!

#10

Just make sure you don’t end up short any puts on the deal.

#11

lose your shorts before you initiate the swap or you won’t know if…

#12

Congratulations, and I wish the best for both of you.

#13

Congrats and good luck Joey.

#14

OH - NOW i get it! Duhhhh! haha. Very Clever, and all the best to you JDV!

#15

Congrats Joey!

#16

Congrats Joey Are you going to sign a Limited Partnership Agreement? I hope it is an evergreen fund. Best of British Loxley

#17

very cute. congrats joey!

#18

Took me 2 coffees to figure this one out…man, I’m an idiot. Congrats.

#19

I just can’t bring myself to offer a “congratulations” but ill offer a very genuine “best of luck”. Using my own personal experience as a basis, I just feel the depreciation in value for these types of long term swaps can increase at fairly rapid rate as time goes by. I hope you have really considered a solid hedeging instrument against the inherent risk involved in these types of investment vehicles. Again, best of luck to you!

#20

Joey - Can you pls explain the economics and the motivation behind the trade? Good luck as well. Thanks.