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Next 'big short' becomes a market preoccupation

Tenth anniversary of BNP Paribas' subprime jolt fuels talk of new risks

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A screen shows the Dow Jones Industrial Average after the closing bell on the floor of the New York Stock Exchange (NYSE) on July 12.   © Reuters

TOKYO -- "What is your big short?"

Hedge fund managers and investment bankers are tossing this question around a lot these days -- prompted, perhaps, by the 10th anniversary of BNP Paribas' suspension of funds exposed to the U.S. subprime mortgage problem. The French bank's move in August 2007 was one of the major milestones leading up to the global financial crisis. 

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