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Mr. Prater contended that he sold "contracts," not investments.
It bought and sold contracts on gas and electricity, among other things, and made markets in financial derivatives related to the energy markets.
A.I.G., at one time the world's largest insurer, sold contracts to these sophisticated counterparties that theoretically protected them from losing money if the debt they had purchased defaulted.
Lou Lung Pai A Big Stock Seller, With a Taste for Glitter Lou Lung Pai headed several divisions at Enron, including Enron Energy Services, which sold contracts to provide natural gas and electricity to companies for long periods.
Additionally, out of the total number of sold contracts at the May $24 strike, 3,000 of the puts were spread against the purchase of 3,000 calls at the higher May $27 strike for a premium of 72 cents a-pop.
On prediction markets around the world, people bought and sold contracts on any candidate winning in the two elections; canonically contracts are worth $1 if the candidate in the contract wins the election and $0 if the candidate loses the election.
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There will also likely be a cheaper "iPhone 4S", perhaps sold contract-free.
The Moto G will be sold contract-free from £135 in the UK and $179 in the US.
They buy and sell contracts that pay off if a candidate wins.
We should beware the inherent asymmetry when the state sells contracts and assets.
The few floating wind projects in the US are struggling to sell contracts for their electricity.
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