"...nanos, gigantium humeris insidentes..."--John of Salisbury
Wednesday, October 19, 2011
"Morgan Stanley Is Shorting France"
said Wednesday that it had hedged its exposure to France so much that the number is actually negative $286 million.
In other words, once you take into account Morgan Stanley's hedges, the Wall Street firm is short France. Meaning, it is positioned to profit from a financial crisis in France.
Without the hedges, Morgan Stanley has around $1.53 billion to risks linked to Fra
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