On this map of the South Atlantic, which letter is on a transform fault? 
Definitions:
NAV
Net Asset Value, the total value of a fund's assets minus its liabilities, usually expressed per share.
Tail Event
An event or outcome that has a small probability of happening but can lead to significant impacts, often referred to in the context of financial risks.
Statistical Arbitrage
A quantitative trading strategy that seeks to exploit price discrepancies between related financial instruments by using complex statistical models and algorithms.
Long Term Capital Management
A hedge fund management firm famous for its collapse in 1998, highlighting the risks of using extensive leverage and derivatives.
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