re : houston visit thank you very much for your prompt reply . pls let me know if you ' re going
to be in ny , otherwise i look forward to seeing you soon in houston .
soussan
( 914 ) 253 - 4187
- - - - - original message - - - - -
from : vince . j . kaminski @ enron . com [ mailto : vince . j . kaminski @ enron . com ]
sent : tuesday , april 25 , 2000 11 : 23 am
to : faizs @ texaco . com
subject : re : houston visit
soussan ,
it looks fine .
look forward to meeting you again in houston or new york .
vince
" faiz , soussan " on 04 / 25 / 2000 09 : 29 : 34 am
to : " ' vince . j . kaminski @ enron . com ' "
cc :
subject : re : houston visit
dear vince ,
firstly , i really appreciate your time and our meeting last week . learning
about enron ' s use of leading - edge practices was quite enlightening and i
truly benefited from our visit .
secondly , i ' ve summarized my key " take - aways " as stated below . before
conveying it to my management , however , i really appreciate it if you can
pls review my conclusions and ensure that they are not miss - stated .
again , thanks so much for your time and wisdom . i was also honored that
you
gave me a copy of the " managing energy price risk " book and shall reference
it with interest . thank you .
i really look forward to seeing you again next time i ' m in houston .
best regards ,
soussan
( 914 ) 253 - 4187
ps . the latest fortune article on ene is a great read and substantiates
the
company ' s innovative and creative approach to business .
- - - - - -
as you may know , i was invited to visit with enron ( ene ) last week . i met
with vince kaminski , the vp and head of research in the risk management
group of ene . vince who used to be with salomon brothers and at & t is the
" brain " of ene w . r . t . their analytical tools for pricing of commodities ,
hedging , optimization of financial and physical transactions , as well as
the
value - at - risk systems . in addition , vince has received the 1999 james h .
mcgraw award for energy risk management ( energy risk manager of the year )
and is well published . he is the key contributor to a best - selling
publication by risk books entitled : managing energy price risk .
our meeting was mainly focused on gaining additional insights re
leading - edge practices within ene . my key findings are summarized below :
1 . ene does not use corporate price premises . they use market price info
only and adhere to mark - to - market accounting .
2 . ene uses the " heath , jarrow , and morton " methods for modeling price
dynamics ( i ' ve asked bic for a copy of the associated paper ) . they have
their own " home - grown " software , however , they periodically review selected
external developments for internal inclusion and advancement .
3 . vince ' s group comprises of mathematicians , physicists , and operations
researchers who are responsible for the development and advancement of
ene ' s
risk management tools . these models are religiously used by the traders ,
risk managers , and bus across ene .
4 . investment proposals are screened , risked , and " roved " by a separate
corporate group ( similar to our special studies and with business and real
options skills ) who work in conjunction with the bus . all evaluations and
transactions are marked - to - market .
5 . ene does not use efficient - frontier portfolio concepts . they " vc fund "
any opportunity that has a credible value proposition and can stand on its
own . they believe that with the current plentiful liquidity in the market ,
project - financing in not an issue for a " good " opportunity . however , they
closely monitor the development of each opportunity , within their deep
portfolio , at the corporate level and know how to " fail fast " .
6 . the employee reward system is based on p & ls as well as the creation of
new business .
7 . most employees have stock options .
i really enjoyed my visit and hope to meet with vince again the next time
i ' m in houston .
re : houston visit
thank you very much for your prompt reply . pls let me know if you ' re going
to be in ny , otherwise i look forward to seeing you soon in houston .
soussan
( 914 ) 253 - 4187
- - - - - original message - - - - -
from : vince . j . kaminski @ enron . com [ mailto : vince . j . kaminski @ enron . com ]
sent : tuesday , april 25 , 2000 11 : 23 am
to : faizs @ texaco . com
subject : re : houston visit
soussan ,
it looks fine .
look forward to meeting you again in houston or new york .
vince
" faiz , soussan " on 04 / 25 / 2000 09 : 29 : 34 am
to : " ' vince . j . kaminski @ enron . com ' "
cc :
subject : re : houston visit
dear vince ,
firstly , i really appreciate your time and our meeting last week . learning
about enron ' s use of leading - edge practices was quite enlightening and i
truly benefited from our visit .
secondly , i ' ve summarized my key " take - aways " as stated below . before
conveying it to my management , however , i really appreciate it if you can
pls review my conclusions and ensure that they are not miss - stated .
again , thanks so much for your time and wisdom . i was also honored that
you
gave me a copy of the " managing energy price risk " book and shall reference
it with interest . thank you .
i really look forward to seeing you again next time i ' m in houston .
best regards ,
soussan
( 914 ) 253 - 4187
ps . the latest fortune article on ene is a great read and substantiates
the
company ' s innovative and creative approach to business .
- - - - - -
as you may know , i was invited to visit with enron ( ene ) last week . i met
with vince kaminski , the vp and head of research in the risk management
group of ene . vince who used to be with salomon brothers and at & t is the
" brain " of ene w . r . t . their analytical tools for pricing of commodities ,
hedging , optimization of financial and physical transactions , as well as
the
value - at - risk systems . in addition , vince has received the 1999 james h .
mcgraw award for energy risk management ( energy risk manager of the year )
and is well published . he is the key contributor to a best - selling
publication by risk books entitled : managing energy price risk .
our meeting was mainly focused on gaining additional insights re
leading - edge practices within ene . my key findings are summarized below :
1 . ene does not use corporate price premises . they use market price info
only and adhere to mark - to - market accounting .
2 . ene uses the " heath , jarrow , and morton " methods for modeling price
dynamics ( i ' ve asked bic for a copy of the associated paper ) . they have
their own " home - grown " software , however , they periodically review selected
external developments for internal inclusion and advancement .
3 . vince ' s group comprises of mathematicians , physicists , and operations
researchers who are responsible for the development and advancement of
ene ' s
risk management tools . these models are religiously used by the traders ,
risk managers , and bus across ene .
4 . investment proposals are screened , risked , and " roved " by a separate
corporate group ( similar to our special studies and with business and real
options skills ) who work in conjunction with the bus . all evaluations and
transactions are marked - to - market .
5 . ene does not use efficient - frontier portfolio concepts . they " vc fund "
any opportunity that has a credible value proposition and can stand on its
own . they believe that with the current plentiful liquidity in the market ,
project - financing in not an issue for a " good " opportunity . however , they
closely monitor the development of each opportunity , within their deep
portfolio , at the corporate level and know how to " fail fast " .
6 . the employee reward system is based on p & ls as well as the creation of
new business .
7 . most employees have stock options .
i really enjoyed my visit and hope to meet with vince again the next time
i ' m in houston .