
So you did some responsibility for the level of f What is forex rebateancing bestforexrebate the Quantum Fund Group had at the time, but Whatisforexrebate it his original idea to short the pound? Yes, he discussed it with me, but it was his decision. If it wasnt for your encouragement, he would never have raised the kind of money that Quantum Fund did at that time, is that fair? You didnt pressure him to raise as much debt as possible? I advised him to go ahead forexrebatenetwork do it, and he probably would have done it without me. In fact, cashback forex didnt use that much financing because we only risked our equity, maybe a little more than equity, and in that case we could have risked many times our equity. What was your role in these decisions? We made a mistake in the yen in 1994, but the extent of our loss was overstated, and the myth was that we lost a billion dollars, which is not true. I was part of that thought process, so I was responsible for exactly the same thing as I was for the pound, and I played a role in determining where we went wrong, and we were focused on the gradual U.S.-Japan trade dispute, and at the same time, we didnt recognize that there was a more fundamental reason for the strength of the yen, and you didnt spend as much time in New York as you used to, you were mostly in Eastern Europe, working on your foundations activities. Is that right? No longer. I spend less time in Eastern Europe than I have in the last five years. How often are you in touch with the New York office when you are away? When the phone lines are good enough, Im in daily contact with the office. Do you talk to Jurgen Miller? Yes, but also with others. Did he seek your advice? Did you guide him in certain directions? Or were your conversations mostly question-and-answer sessions? He runs the Quantum Fund, and I dont dictate anything to him at all, but at 40 years old, Jurgen Miller is, in many ways, better than I was at his age. Its only partly because Jurgen Miller is a very fair and open-minded person, so hes been able to attract high quality people to the company, and Quantums reputation has grown, especially after the pound, and weve been able to attract the best young people to the company, so we now have an extremely deep operating class that we never had in the past.