Word: doerrer
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Dates: during 1990-1999
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...party can pass along the risk he does not want to a speculator who will gladly take it. Such trades can often turn on fraction-of-a-point changes in currency rates or interest charges. "The speed of money is faster than it's ever been," says Laleen Doerrer, the co-founder of a one-year-old Chicago derivatives firm. "It seems like every day someone has created a new contract and a new swap option. We are almost equally divided between two groups of customers -- one that wants to protect everything it has and the other that wants...
With banks and brokerages striving to create ever more exotic derivative products, it is hardly surprising that the markets have begun to show signs of overheating. "Some of the dynamics are too fast for the fastest players," says Doerrer. Concurs Bruce Hauptman, a Fairfield, Iowa, money manager who handles $800 million in derivatives investments: "You're going to have people getting blown out, and there is going to be bloodshed...
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