Well spotted, Dumas.
This reminds yoda of numerous occasions concerning banks with large over the counter derivative (OTC) contracts. Very common for Bank A to claim a marked to market profit on a particularly large contract at balance date. By juicing the assumptions behind the theoretical valuation models used. Likewise, A's counterparty, Bank B claims a mark to market profit on that same contract. Again, by juicing the assumptions. Both sides claim each is ahead. Who lost? Both Auditors bless the approach and profits.
CGA Price at posting:
$1.03 Sentiment: None Disclosure: Not Held
