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Worst Loss and Futures Promises

Quotes
Richard Lindsey, Barry Schachter
How I Became a Quant: Insights from 25 of Wall Street's Elite , Wiley, John & Sons, July 2007

"In the nature of random things, the worst loss is always in the future."

"In other words, a futures contract is an exchange of promises that neither party intends to keep and both parties know it."