From BusinessInsider: Everyone has been talking about how
legendary derivatives trader Boaz Weinstein, the founder of Saba Capital and
former co-head of credit trading at Deutsche Bank, is the man on the other side
of the disastrous JPMorgan trade.
I was there on February 3 when Weinstein recommended buying
the Investment Grade Series 9 10-Year Index CDS, which is reportedly the same
security the JPMorgan desk was short.
Weinstein, who started Saba in 2005, revealed this huge
trade idea that would ultimately cream the bank during the Harbor Investment
Conference at JPMorgan's Park Avenue offices in New York (how ironic)....
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