deleverage

With all the attention directed towards financial institutions these days, the word on everyone's lips is "deleveraging", in other words, unwinding positions, paying down the margin debit balances, reducing exposure and saying goodbye to outsized returns on strategies that appear "safe" until one finds out that the equity is leveraged 10-20 times or more to exaggerate the returns and thus creating the appearance of high returns without the risk.

Happy Friday.

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