0
Nessie000 Posted 17 years ago
Grammar

''derivatives''?

Hi,

Please have a look at this:

Morgan CEO Jamie Dimon has demonstrated superb leadership, recognizing before most others the problems that were developing and deftly guiding JPMorgan Chase away from the risky loans and derivatives that undermined rival banks, setting it up to grow rapidly

What do 'derivatives' and 'setting it up' here mean?

Thank you very much,

Nessie.
  

Top answer

Nobody knows what "derivatives" are! ) setting it up to grow rapidly The CEO developed a business model for Morgan Chase which put it in a position to prosper. One of the key elements of his plan was to avoid the damned derivatives which scuttled everybody else's company (undermined the riverbanks).

— Avangi

  • Nobody knows what "derivatives" are!
  • ) setting it up to grow rapidly The CEO developed a business model for Morgan Chase which put it in a position to prosper.
  • One of the key elements of his plan was to avoid the damned derivatives which scuttled everybody else's company (undermined the riverbanks).
Free · every Monday

Get the Weekly English Kit 📬

New words, one handy idiom, and a 2-minute quiz — delivered to your inbox to keep your streak alive.

2 Answers
0
Nobody knows what "derivatives" are! (they're something like futures - you bet that the value will decline, or some such weird nonsense - I guess you could say they're highly leveraged - I really have no idea what I'm talking about!)

setting it up to grow rapidly

The CEO developed a business model for Morgan Chase which put
0
0
"derivatives" are complicated financial products, such as futures and options, whose profit/loss depends on the movement in price of some simpler underlying product or commodity. That is, they are "derived" from those simpler products.

"setting it up" refers to Dimon's actions to organise/develop/guide/position the company.
0

Related Questions