berømt Big Bets Gone Bad by Philippe Jorion xnFjmpId

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How can a municipal investment pool which is supposed to be safe lose billions of dollars What are derivatives and how did they contribute to this tragedy In December 1994 Orange County became the largest municipality in U.S. history to become bankrupt. By borrowing heavily and placing the wrong bets Orange County Treasurer Robert Citron lost 1.7 billion of Orange Countys 7.4 billion investment portfolio. Big Bets Gone Bad Derivatives and Bankruptcy in Orange County is the first deta