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  "documentTitle": "Lehman Brothers | Investor Event Presentation Deck | 65 slides",
  "authorId": "lehman-brothers",
  "authorName": "Lehman Brothers",
  "documentKindSlug": "conference-presentation",
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  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2007-08-01 00:00:00",
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  "pageNumber": 35,
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  "density": "dense",
  "nDataPoints": 21,
  "notes": "The slide uses a grouped bar chart to show the frequency distribution of daily trading revenues across three distinct time periods.",
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  "slideHref": "/slides/019de06f-3284-770f-8f8c-49b46b0b588d/35",
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      "kind": "callout",
      "text": "Risk Exposure",
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      "kind": "chart",
      "text": "Daily Trading Revenue Distribution (December 2004 through May 2007 - $millions)",
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      "text": "From December 2004 through May 2007, we had sixteen (16) days of trading losses at the Firm level. The largest losses in financial years 2005, 2006, and 2007 were $16m, $59m, and $57m respectively. The number of negative P&L days has significantly decreased over this three year period from 8 to 3. Over the same period, the average daily trading revenue has increased from $42m in 2005 to $60m in 2007. The number of days with greater than $75mm in revenue has increased from 19 to 34. The bulk of the large gains were from sales of real estate positions which, under current accounting rules, have to be valued at the lower-of-cost-or-market. Because we are not on mark-to-market for these positions, appreciation is not recognized until we sell the property. However, impairments are recognized as they occur over time. The significant mean and gains in our trading revenue distribution reflects the growth in our strong franchise",
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      "text": "Trading Revenues",
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