Subject: Re: Earnings
The fx loss doesnt really mean anything, i think? It’s 2.x% 30 year yen loan. Eqch quarter when Yen appreciate, of course it cost u more if you pay it off today. But you don’t pay it off till 30’years later. It’s like if I get a 30 yr mortgage for my house, i don’t book a pnl based on daily inflation expectations..