METALLGESELLSCHAFT

Laurent L Jacque
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Laurent L Jacque: Tufts University, USA & HEC School of Management, France

Chapter 6 in Global Derivative Debacles:From Theory to Malpractice, 2010, pp 73-96 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:THE METALLGESELLSCHAFT DEBACLETHE “LONG AND SHORT” OF HEDGING IN THE OIL MARKETNUMERICAL ILLUSTRATION OF “EBBS & FLOWS” UNDER A “STACK & ROLL” HEDGETHE “MESSAGE IS IN THE ENTRAILS”: EMPIRICS OF THE OIL MARKET (1983–2002)IF ONLY MGRM HAD BEEN ALLOWED TO ROLL THE DICEWHEN A HEDGE IS A GAMBLE: WAS MGRM HEDGING OR SPECULATING?MGRM AS A MARKET MAKER?THE MORAL OF THE STORYBibliographyQuestions for Discussion

Keywords: Derivatives; Debacles; Options; Swaps; Futures; Forwards; Financial Engineering; Market Manipulation; Rogue Traders; Speculation (search for similar items in EconPapers)
Date: 2010
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