EFTA01919420

To: Vincenzo lozzo From: Jeffrey E. Sent Sun 8/10/2014 3:22:57 AM Subject Re: A note on shorting no one knows the other side it just looks like a sell and they are buyers? On Sat, Aug 9, 2014 at 8:00 PM, Vincenzo Iozzo wrote: Sorry for the email flood.. While studying I realized I forgot a big counterargument to your derivative on the cyber stuff: even if you want to short the bond trough a derivative, who's going to take the other side of the bet? Everyone is/should be aware of the moral hazard there I think Not saying that invalidates your thesis on the fact that this can't work because it's hard for investors to understand - just saying that I don't think shorting it is a risk Anyway, I'll go back to my studies ;) Sent from my Iphone please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA_R1_00361631 EFTA01919420