bcohn91

Yes, combined with the risk that the currency could go down in terms of the currency you care about.

Why is the first comment on HN minimizing this truly impressive project? Of course it's not perfect, he's ONE person.

His mom is a Moroccan Jew

From the article:

> Apple’s relative thriftiness extends to its vaunted advertising and marketing operations. The company spent $3.5 billion on advertising and marketing over the past four quarters, while Google spent about $8.8 billion in the past three.

Thanks to the author for highlighting the insidious effect of soft lobbying.

I'm also interested in difference between American and European approaches to anti-trust law. From what I understand, US regulators generally look for harm to the consumer, whereas their European counterparts try to detect harm done to competitors.

It seems that the European approach might insulate European firms from healthy competition, while leading to dead-weight loss of consumer surplus.

For example, if Google offers Yelp's reviews up on a Google.com domain, that might be more convenient for the consumer, who doesn't have to bounce around to different websites to find an answer. And it also might spur Yelp to find a way to add unique value to the consumer's experience instead of providing superfluous services.

I'm a little confused. Are you saying you can hedge a swap like a Treasury, but can't do the reverse -- hedge a Treasury like a swap? Why would that be the case? Or am I misinterpreting you?