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Posts by MSchapiro

Well someone had to be buying the CDS in order to create the synthetic CDOs. They were part of that market. No way to know how much though, I'd doubt they accounted for even a majority of it. A lot of people who had decent risk management probably bought them as a part of every day hedging. The reason the crisis got so bad was because it turned out the CDS sellers were very concentrated and couldn't meet their obligations thereby triggering a snowball.  I'd heavily doubt...
What do you want to know? A CDO is essentially a portfolio of loans sliced up into various risk based units with investors at the bottom agreeing to take the biggest losses. A synthetic CDO replicates a CDO structure by investing in CDS generally.  Essentially structure finance is interested with creating artificial risk buckets, compared to a bond where the entire bond defaults or doesn't. It makes sense for something like mortgages where you may get anywhere from 105-90%...
The book was fine, Lewis is entitled to his view and I agreed with him in many areas. The movie took it well over the top though with the narrative and making out the characters to be something they weren't.   It does make it an amusing film, but people talking is actually what drives me crazy. I used to teach structured finance, now a bunch of people who've watched a movie for an hour with more will argue about Synthetic CDO structures like they have any idea what they...
Interesting, thanks for clearing that up for me guys. You learn something every day. 
Not that well versed in this since I only know Shinola from their made in Detroit marketing, but what is the source that all the parts are outsourced? Seems to defeat a lot of their advertising. 
That movie really annoyed me, especially compared to the book.  They played up this anti-wall street crusader rhetoric to make the characters likeable that never appeared in the book. Also their whole nothing has changed speech. 
I have a palladium Stratfield. I have no doubt the West End would look nice, especially if you want a high gloss precious metal finish. I wouldn't describe that as a casual belt though, that will very much look like a high end dress belt.  Stainless provides a similar effect in the West End for less if you want to go for a casual belt. 
I ended today up nearly 2%. Strange few days. 
Hi Antonio 
Was my biggest holding, but the price decline has seen to that.  Lots more to buy though once funds clear tomorrow.  I have made over 100%+ so far on CORR at least.  I have $40 in NADL, debating if I should sell or just hold onto it for the option value at this point.
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