We set stop-loss orders on our open trades to keep our maximum loss on each trade to 8% or so.

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The maximum loss is the net premium paid and transaction costs.

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"As long as banks continue to hold problem assets and these assets have no insurance or other protection for maximum loss, banks remain exposed, " said Michael Mayo, an analyst at Deutsche Bank.

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Berkley said industry risk models have all but abandoned the once common indicator known as "Absolute Maximum Loss, " preferring to base premiums on the more conservative "Probable Maximum Loss" calculation, which lowers damage estimates by factoring in long odds of catastrophic events.

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Using data provided by Lehman Brothers, I was able to estimate the fund's maximum cumulative loss over the past 10-and-a-half years (the maximum period for which data is available).

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With 95% confidence, RiskMetrics calculated, your maximum gain or loss on a recent day would be 3.398%.

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Everyone is entitled to mourn the loss of a job for one week maximum.

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The maximum gain has been 46%, and the largest loss has been -3%.

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The maximum fine may be increased to twice the gain derived from the crime or twice the loss suffered by the victims of the crime, if either of those amounts is greater than the statutory fine.

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"Because the maximum thickness of these small, low-altitude glaciers rarely exceeds 40 metres, with such an annual loss they will probably completely disappear within the coming decades, " said lead author Antoine Rabatel, from the Laboratory for Glaciology and Environmental Geophysics in Grenoble, France.

BBC: Massive melting of Andes glaciers