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But the price of those options will reflect people's view of the value of them 15 years out.

• sethg 15y ago
  If investors could make accurate predictions of what securities would be worth 15 years out, then we wouldn’t be seeing financial blowouts every 15 years.
  • salvadors 15y ago
    Sure. I never said they'd be accurate; the point is simply that if you want someone to give you money for bank stock that can't actually be sold for 15 years, you'd be unlikely to get a particularly good price for that, especially if it were in a climate where there's a high likelihood that the bank is quite likely to go bust long before that.