Subject: sec var
gary and georgeanne let me know that all but 487 shares of eog are hedged
( without the eog leg , the cerberus total return swap is really only a loan ,
and its var is about $ 500 thousand ) . i have recalculated , and the total
return swaps var fell to $ 34 million in december and $ 18 million in
november . december var is still up substantially from november , and the
primary reason now is that since natural gas prices are up so much , the value
of the bammel looper and mid texas total return swaps has increased . the
more money we make , the more we can potentially lose .
regards ,
eugenio