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Stupidest contract ever made?

  • 03-11-2017 6:02pm
    #1
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭


    This post has been deleted.


Comments

  • #2
    Marcusm
    Registered Users, Registered Users 2 Posts: 10,632 ✭✭✭✭Marcusm


    Fred Swanson wrote: »
    This post has been deleted.

    They are not unique; similar timing/valuation mismatches were at the centre of the “market timing” scandal in the US about a decade ago - certain investors had their exit price calculated on a look back basis - for quasi tracked funds that basically meant you executed a sell and a buy at around the same time for a guaranteed profit.

    The French Aviva situation has been in the press many times over the past 5 years or so.


  • #3
    cdeb
    Moderators, Sports Moderators Posts: 7,279 Mod ✭✭✭✭cdeb


    It's from 2.5 years ago anyway, and hard to find many updates since. Hard to imagine the bits about the French court decisions in particular are made up though


  • #4
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


  • #5
    mickdw
    Registered Users, Registered Users 2 Posts: 23,688 ✭✭✭✭mickdw


    His contract came from a small company bought out by aviva but still it doesn't make sense why anyone in any company would sell such a product.
    Aviva have settled cases with other members of his family who has similar contracts so I'd day he is on a winner.


  • #6
    Markcheese
    Registered Users, Registered Users 2 Posts: 8,831 ✭✭✭Markcheese


    How were the original company ever going to win on that...

    Slava ukraini 🇺🇦



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  • #7
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    Markcheese wrote: »
    How were the original company ever going to win on that...

    Probably a manager with a bonus scheme based on total sales and too much authority to create schemes selling the scheme.


  • #8
    Staph
    Registered Users, Registered Users 2 Posts: 472 ✭✭Staph


    Markcheese wrote: »
    How were the original company ever going to win on that...

    They mentioned in the article, that it was before the digital age. So market outcomes would have to be sourced in print and would then require the investor to act. There would always be a delay and a necessity to be very active to make the investment 'work' in a pre-digital age.


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