I basically know how the CDS works but can someone with knowledge about CDS give a clue how CDS traded. I vividly remember watching a video clip from BBC, posted by Hotcopper member on how this guy made 500 millions a year on trading these derivaties.
I personally felt like this is a ticking "60 trillions nuclear bomb" waiting to explode in the financial world.
Any thoughts?
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I basically know how the CDS works but can someone with...
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