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-{{g}}[[Credibility derivatives]] were once the principal means of [[hedging]] [[tail risk]] in fashion industry. They grew out of the popular pastime of [[taste arbitrage]], a much simpler [[physically-settled]] contract on the spot market.
+{{a|myth|[[File:Fashion.jpg|450px|thumb|center|A brand new, not very clear, dance, yesterday]]}}[[Credibility derivatives]] were once the principal means of [[hedging]] [[tail risk]] in fashion industry. They grew out of the popular pastime of [[taste arbitrage]], a much simpler, [[physically-settled]], contract on the spot hip market.
 ===Origins===
-History has it that [[Albert Coldfall]], an enterprising analyst in the [[taste arbitrage]] desk at [[Wickliffe Hampton]] stumbled upon the idea of [[credibility derivatives]] when shopping for records in Essex one Sunday in the 1980s.
+History has it that {{author|Hunter Barkley}}, an enterprising hipness analyst on the [[taste arbitrage]] desk at [[Wickliffe Hampton]] stumbled upon the idea of [[credibility derivatives]] when shopping for records in Essex one Sunday in the 1980s.
-Coldfall noticed that his local record store in Chingford, which carried [[Rick Astley]]’s turgid debut ''[[Whenever You Need Somebody]]'' at its full price, had sold out of it, while fully fifteen copies of Keith Jarrett’s seminal, hard-to-find and unstintingly cool ''[[The Köln Concert]]'' lingered disregarded in a sale bin for a pound fifty each.
+He noticed that his local record store in Chingford, which carried [[Rick Astley]]’s turgid debut ''[[Whenever You Need Somebody]]'' at its full price, had sold out of it, while fully fifteen copies of Keith Jarrett’s seminal, hard-to-find and unstintingly cool ''[[The Köln Concert]]'' lingered disregarded in a sale bin for a pound fifty each.
-Not even realising what he was doing, Coldfall snapped up all fifteen copies of the jazz disc, on principle.
+Not even realising what he was doing, this resourceful young fellow snapped up all fifteen copies of the jazz disc, on principle.
-Later he happened by an ''avant-garde'' vinyl emporium in Soho and, remembering his earlier experience, popped in, just to compare prices. He was amazed to find a ''queue'' for ''[[The Köln Concert]]'', advertised at £25.99, but only the single copy of ''Whenever You Need Somebody''<ref>Allegedly a requirement of the promoting record company to carry the number-one selling album of the time, which may explain why the boutique was having it at all: every man has his price.</ref>, in its own sale bin, for 50p. At that moment the shop announced that it had sold out of the Jarrett LP, provoking a commotion — feeble by ordinary standards but quite something in context — amongst inconvenienced hipsters.
+Later he happened by an ''avant-garde'' vinyl emporium in Soho and, remembering his earlier experience, popped in, just to compare prices. He was amazed to find a ''queue'' for ''[[The Köln Concert]]'', advertised at £25.99, but only the single copy of ''Whenever You Need Somebody''<ref>Allegedly a requirement of the promoting record company to carry the number-one selling album of the time, which may explain why the boutique was having it at all: every man has his price.</ref>, in its own sale bin, for 50p. At that moment the shop announced that it had sold out of the Jarrett LP, provoking a commotion — feeble by ordinary standards but quite something in the place and time — amongst inconvenienced hipsters.
-Nothing if not an opportunist, Coldfall offloaded his fifteen jazz albums directly to disappoionted shoppers, for £40 each, and realised that once he could earn the a handsome commission without taking any risk himself, by setting up a term exchange between this emporium and his record shop in Chingford — where Chingford supplied Jarrett and Soho supplied Astley — as long as he could source sufficient [[Rick Astley]] records in Soho.
+Nothing if not an opportunist, the analyst offloaded his inventory directly to disappointed jazz aficionados, for £40 a clip, and realised at once that he could earn a handsome risk-free yield, by setting up a term exchange between this emporium and ''SoundWavez''  Chingford — where Chingford supplied Jarrett and Soho supplied Astley.  The Soho proprietor agreed and the first [[credibility swap]] transaction was executed.
+===[[Credibility pair]]s===
-The Soho proprietor eventually agreed and the first credibility swap transaction was executed.
+Thus, also, was born on the first “[[credibility pair]]”. {{credibility pairs capsule}}
+===Growth of market===
-Thus was born on the first “credibility pair”: Keith Jarrett and Rick Astley.
-===Growth of market the hi what time do you think you'll be back yeah what are you today you learn carefully===
 Before long, [[credibility derivatives]] were big business in the clothing industry: a segment of the economy, of course, with significant exposure to sudden, arbitrary changes in the public’s opinion.
 At first record shops, and soon other sellers of goods largely dependent for their value on arbitrary public opinion, began methodically to hedge their risk to those changing tastes. A popular variation was the “[[credibility default swap]]” wherein a seller with significant exposure to inventory of questionable long-term hipness could but protection out to five years. Then, upon the occurrence of a publicly recognised “credibility event”, the proprietor (“Buyer”) could deliver that inventory to the “Seller” against payment of its notional hip value, struck as at the trade date of the contract.
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 {{sa}}
 *[[Credit default swap]]
+*[[Turpitude derivatives]]
 {{ref}}