Saturday, August 18, 2007

New Hedge Fund Announcement

Taken from an Yahoo report on 'gallows humor' on Wall Street:

Another dealer announced in a cheeky e-mail the creation of a new structured product: a Constant Obligation Leveraged Originated Structured Oscillating Money Bridged Asset Guarantee, or COLOStOMyBAG.

One trader noted on the product - a parody of the increasingly bizarre acronyms that have become commonplace in the world of structured finance - "It's basically full of shit."

No one at Bear Stearns or Goldman Sachs could be reached for comment.

No comments: