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It is the third week of Jan


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#11 A-ha

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Posted 16 January 2007 - 04:54 PM

My understanding is that you covered some of your QQQQs in order to buy OIH. Reported here by DC. Is that not true?

IT



I didnt covered a single share of Qs... Didnt say anything like that. I dont know how he got that impression.
All we talked about is how to build a short position and how to manage it. I told him I stopped shorting Qs a while ago in order to balance the portfolio so the curve could be manageable.


Unless I misunderstood, I think you were saying you were going to reduce your Qs exposure from 40% of portfolio to 30% of portfolio to buy OIH..

If thats not the case, then I stand corrected, but I believe that's what was said.



No I said when I buy OIH, % of Qs will drop from %40 to %30, mathematically

it is like:

if I have $40 worth Qs in my $100 portfolio right now, which means %40 exposure,
after I buy $X worth of OIH, it will be $40/(100+X) which is less than %40

#12 dcengr

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Posted 16 January 2007 - 05:01 PM

My understanding is that you covered some of your QQQQs in order to buy OIH. Reported here by DC. Is that not true?

IT



I didnt covered a single share of Qs... Didnt say anything like that. I dont know how he got that impression.
All we talked about is how to build a short position and how to manage it. I told him I stopped shorting Qs a while ago in order to balance the portfolio so the curve could be manageable.


Unless I misunderstood, I think you were saying you were going to reduce your Qs exposure from 40% of portfolio to 30% of portfolio to buy OIH..

If thats not the case, then I stand corrected, but I believe that's what was said.



No I said when I buy OIH, % of Qs will drop from %40 to %30, mathematically

it is like:

if I have $40 worth Qs in my $100 portfolio right now, which means %40 exposure,
after I buy $X worth of OIH, it will be $40/(100+X) which is less than %40


Ah Ok.
Qui custodiet ipsos custodes?