TAILIEUCHUNG - Tiếng anh chuyên ngành kế toán part 45
428 Planning and Forecasting Ask in Capital Management Between February and April 1994, David Askin lost all $600 million that he managed on behalf of the investors in his Granite Hedge Funds. Imagine the surprise of the investors. Not only had they earned over 22% the previous year, but the fund was invested in mortgage-backed securities—instruments guaranteed by the . government not to default. The lesson from the Askin experience, is that in the age of derivatives, investments with innocuous names might not be as safe and secure as they sound. The particular type of mortgage-backed securities that Askin purchased were.
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