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Joined 1 year ago
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Cake day: July 1st, 2023

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  • I’m not familiar with the mechanics, but the specific derivative valuation method was listed at Level 3 which is used for transactions that rely on unobservable factors to evaluate value.

    Level 1 derivatives are like interest rate swaps where there is a liquid exchange market that can easily be valued.

    Level 2 derivatives are like Futures contracts where the terms may be more bespoke, but value can be derived from an established market.

    Level 3 derivatives I’ve seen described in textbooks as marked to magic lol. Meaning there is no liquid market to mark the value to.

    Somehow, they categorized an instrument that was used to fund the SPAC as a Level 3 derivative. That on surface sounds incorrect for an option or debt conversion of a publicly traded stock.

    This should trigger an audit or something by the regulator, but again, my area of expertise is in Corp Finance, not Treasury.















  • “I guess what I’m saying is that, while your concern is of course valid, it feels different because we tend to see the president as someone with more of a job than, say, a senior software engineer. Okay, that’s fair in a very real sense. But I think that it’s different between the president and a prime minister, and that’s where it gets interesting. I think there’s an idealization of the role of president. And, bizarrely, that’s one reason Trump was so wrong but so beloved by so many.”

    This is what I responded to. This is what you said. You made a bizarre comment about a PM with no context, and I’m a walnut because I didn’t follow your insane logic without context?

    You provided nothing to suggest you thought having a PM would be useful and I’m sure what you say is a huge push is nearly nonexistent. The most public article cited on that wiki page was from years ago in The Atlantic. I’m sure it has some merit, but the huge push is just a fantasy.