Questions below refer to the following two e-mail messages.
To: TradingStaff@CaliforniaPacificlnvest.com
From: CornellWilliams@CaliforniaPacificlnvest.com
Subject: Appointment of Walter Bedell
I am pleased to announce that Walter Bedell has been promoted to Senior Trader on the Asian Currencies Desk, effective September 15.
A graduate of Cullins University's MBA program, Walter's background includes more than 6 years of experience in Asian currency markets, helping our firm realize substantial gains through his expert knowledge of currency movements. He has shown strong forecasting skills, along with the ability to seize opportunities as they arise.
In all this, Walter has proven he is a consummate trader with excellent potential to rise further in our firm. He has repeatedly shown himself able to make gains based on assuming a reasonable amount of market risk, and has not been overly cautious when market opportunities arose.
He has shown himself able to prove academic and so-called “experts” wrong by continually going against the grain in his trading strategies. Walter's strategies have been counterintuitive to established trading philosophies, but he has earned large profits for our firm.
As Asian currency markets continue to liberalize, we look forward to an expanded presence there, and for talented leaders and traders like Walter to help lead the way. Walter will develop and lead new trading strategies to capitalize on this liberalization.
This is why in his new position Mr. Bedell will have virtually no trading limits on his strategies, as long as they do not violate the firm's base equity requirements.
Please join me in congratulating him on this important promotion.
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To : Cornell Williams <CornellWilliams@CaliforniaPacificInvest.com>
From : Andrew Friedman, Business Reporter, USA Business News <AndrewFriedman@USABusinessNews.com>
I understand that you have promoted Mr. Walter Bedell to Senior Trader on your Asian Currencies Desk.
We here at USA Business News Magazine are thus wondering if this means that your firm plans to take a much more aggressive stance in Asian currency markets. This is because Mr. Bedell is known for his highly unconventional trading strategies, making particularly risky plays in Thai Baht, Singapore Dollars, and Korean Won, including plays during your last quarter that greatly surprised most market participants. As you know, these plays have made him the target of great criticism here among business journalists and analysts.
We would thus appreciate it very much if you could take some time to reply to this e-mail elaborating on how Mr. Bedell's promotion will affect your trading and currency market strategies, if at all. This would be furthered by an opportunity to meet and speak with Mr. Bedell privately, either at your firm or here, if at all possible.