Mini-Quiz #2

Please complete the following sentence the right choice(s)

“In this castle of cards, if you take out the_______________card the others will collapse.”


about noble group


I) The REFINANCING Card  (playbook in the press).

II) The VOLUME Card.

That the physical commodity volume cannot be matched by the Shipping outturn of the trader.

III) The ASSET Value Card.

That another drop of just _____% in the asset value render them insolvent.  tip: use your previous answer with FIGURE 5.

IV) The Iceberg Card:

That an analyst sued in Court gets the access to books and bank records of trader to connect the dots, establishing whether Noble’s repurchases its inventories all the time and that banks are involved in these SALES only based on the understanding that Noble will repurchase inventories, something that the CEO has categorically denied.

A) I)

B) II)


D) IV)




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