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From: Free Thinking Doggie
All this talk about the straights of Hormuz reminds me.. About 12 years ago, was on a trip to London, arranged a few beers with an old colleague from Lloyds of London and Deutsche Bank days. Butcher's Hook and Cleaver, some may know it. Smithfield. Very clever chap, (Maths), he'd designed a trading strategy on crude, we didn't go into the details. It made good money, he'd got friends ££ in it as well as his own. It traded the spread between different crude contracts. Then thing suddenly got very hot in the Gulf, 2007 I think. He was suddenly bleeding cash. Then, there was a threat to close the strait. Lost 50k or more in a day. Nasty. Shit happens...

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