Sunday, January 23, 2011

InTrade Futures Contract to Hedge Against Steve Jobs' Departure from Apple

Yesterday, I contact InTrade and asked them if they'd consider creating a contract to hedge against Steve Jobs' departure as CEO of Apple.

Less than 24 hours later InTrade replied back to me: "Thanks for your suggestion. A market for Steve Jobs to depart as CEO of Apple has now been listed".

These futures contracts are not valid, though, if Steve Jobs dies before he steps down. Why not? InTrade goes on to explain, "We are very reluctant to list a market where people can profit from the death of an individual."
Very classy, InTrade, very classy.

The thinking, here, is that Steve Jobs would step down before he became too sick to lead Apple

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