my understanding of cds' is they are akin to multiple insurance policies taken out on the same house.
in effect, a punt.
despite short selling ban, everywhere, share prices continue dropping.
powerful message there.
imo, derivatives market will be greatly scaled back in future. restricted to those who want to buy protection(insurance) against losses on what they own.
cdo's, cds', the whole panoply of speculative flora and fauna, will go away like the doe doe bird
derivative market losses starting to emerge, page-19
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Last
7,953.2 |
Change
-36.400(0.46%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,989.6 | 7,989.6 | 7,894.3 |
| XJO (ASX) Chart |