Very few people know about that Volkswagen trade. A lesson in risk for sure. The particulars of that story are fascinating.
OK, here are some tidbits from the article. Bass thinks USD/JPY is going to 250 to 300 and Japanese rates to 20%! Come on people, read it!
Background on NG. http://www.futuresmag.com/2013/12/2...ing?eNL=52b45d591b4f3a3c70000017&_LID=1196857
Mav, Read it - very interested. But I have no idea - other than to follow NLs and short the JPY using every pair that confirms ... I can also understand the Long Gold/Short JPY pair. I dont understand anything about bonds, convexity and how he has structured a trade that allows him to loose only 150 bp a year while waiting for a trade that could pay handsomely. Is there any place you can point me to understand that trade ... ?