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The views, thoughts and opinions expressed on this website represent those of the author in his individual private capacity, and should not in any way be attributed to any of the institutions to which he is affiliated in any way, or to Moorad Choudhry as a director, representative, officer or employee of any of the institutions to which he is affiliated at any time. The author does not accept liability for any errors or omissions herein. This website does not constitute investment advice and its contents should not be construed as such. The content should not be considered as a recommendation to deal in any financial market or instrument and the author, any named entity, affiliated body or academic institution will not accept liability for the impact of any actions resulting from a reading of any material on this website. The author may or may not hold, or have held, a position in any security identified in this book, at any time in the past or at present.