IDK! but I like it!

'1. DWS closely tied to Deutsche Bank and handles the bank's main business area: Asset Management, Investment Banking, Corporate Banking, Private Banking. It's role is to manage money for private and institutional investors. Through funds it invests that money in assets.

'2. EGS green investment strategy or it's own assets rating/evaluating system.

'3. EGS Engine is fed company data from major rating agencies and financial services providers like MSCI, ISS, Sustainalytics. It's marketed as world leading system but internally most senior portfolio managers disregarded the EGS system/policy, because it was extremely unreliable.

'4. DWS introduces another tool in 2020, worldclass sophisticated smart integration framework, uses AI, above industry standards, the system issued annual ESG research reports on each of their invested companies and rates them.

'5. In annual report says ESG assets under management went up to $550 billion, +2% growth from previous year, that's the total worth of assets managed using the ESG integration approach according to the report. That ESG criteria/rate were considered for $550 billion of investments, more than half of DWS's total managed assets for 2020. But majority of portfolio managers are disregarding ESG system. They don't have tracking system, at best they could track manually at $150 billion of assets under management are aligned with ESG. Where did the numbers get from?

'1. Interest Rate SWAP, Asset Liability Management.

'2. Use Equity SWAP in order to mitigate losses on stock without selling the stocks. Cons of selling stocks in order to mitigate of losses are Transaction cost and Taxes.

'3. Synthetic Interest Rate SWAP is made of a series of FRA (Forward Rate Agreement). OR sell fixed rate bonds and buy float rate bonds at the same time.

'4. Off market FRA means a agreement uses not a market rate.

'1. Bloomberg terminal gives access to all kinds of data about stuck, rent about $24K a year.

'2. VAR (Value at Risk), the maximum amount that a company expects to lose over a fixed period of time on its portfolio or its investments. 5% VAR of $10M means that a company is 95% confident that they won't lose more than $10M on any given trading day.

'3. it takes roughly a month for that mortgages to be converted into a CDO and that's where Peter explains is why the company is in this predicament because the assets on this book are all these mortgages that have yet to be turned into a CDO offloaded to other investors and those mortgages are deteriorating faster than they're able to package those mortgages.