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Pay now/later guidance

Posted By: Timothy Chow
Date: Sunday, 11 July 2010, at 2:08 a.m.

In Response To: Pay now/later guidance (Matt Cohn-Geier)

O.K. But then this doesn't seem that different from Heinrich/Woolsey's principle #3 (or principle #4, which they insert into their analysis of the first pay now/later position): If your position is flexible enough that you can wait it out until you roll a joker then that points to paying later because you might not need to pay at all.

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