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"Internet IPOs: An Insider's Game" explains how investment banks structured some initial public offerings using stock options and other tricky financial instruments that divided the performance of the companies and the interests of the people running them.
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That left an opening for Lance Uggla, the firm's Canadian founder and chief executive.Mr Uggla's big insight, as a former bond trader, was that opaque market structures made it tricky for banks accurately to price some of the complex financial instruments they were dealing in.
The improvements follow a tricky financial year.
And third, do not ban financial instruments.
Stock options are bafflingly complex financial instruments.
Derivatives are financial instruments whose values are derived from an underlying security or financial instrument.
The original deal came about when Fairfax needed to solve a tricky financial problem.
A speculative bubble inflated by dazzling new financial instruments?
He also wants banks to hold more liquid financial instruments.
There were no toxic mortgages, no opaque financial instruments.
These financial instruments are typically insured by the Federal Deposit Insurance Corporation.
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