| 作者 |
 George Soros: CDS are truly toxic |
 |
tahiti
[博客]
[个人文集]
游客
|
|
|
作者：游客 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
Derivatives should be at least as strictly regulated as stocks and credit default swaps (CDS) are truly toxic, stated George Soros, chairman of Soros Fund Management, at a meeting of the Institute of International Finance(IIF) Friday in Beijing.
In the speech at the Membership Meeting of IIF, Soros said, "Some derivatives ought not to be allowed to be traded at all. I have in mind credit default swaps. The more I've heard about them, the more I've realised they're truly toxic."
To support the argument, Soros explained that going short on bonds by purchasing a CDS contract carried limited risk but almost unlimited profit potential. By contrast, selling CDSs offered limited profit and practically unlimited risk. What's more, the asymmetry between purchasing and selling, was reinforced by the fact that CDS were traded and so tended to be priced as warrants, which could be sold at any time, and not as options.
"People buy a CDS not because they expect an eventual default but because they expect them to appreciate in response to adverse developments," added by Soros.
He also explained the reason of the collapse of American International Group (AIG). "AIG thought it was selling insurance on bonds and as such CDS were outrageously overpriced. In fact AIG was selling bear market warrants and it severely underestimated their value."
作者：游客 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
| 相关主题 |
| [转帖]George Soros :Financial Times 01/...
|
海归主坛 |
2008-1-25 周五, 12:47 |
| 乔治•索罗斯(George Soros)为英国《金融时报》撰稿 全球面临6...
|
海归主坛 |
2008-1-23 周三, 17:21 |
| NY Times article on George Soros revi...
|
海归论坛 |
2006-8-22 周二, 06:33 |
| 说起哲学,上周不记得谁推荐了GEORGE SOROS 2003版的...
|
海归论坛 |
2003-12-07 周日, 03:57 |
| 老书虫国际文学节活动之——The Australian Moment wi...
|
生活风情 |
2013-3-18 周一, 14:37 |
| 安氏幽默：Why I’m Coming Back to US （根据Geo...
|
海归主坛 |
2012-12-30 周日, 22:52 |
| [分享]扎扎实实推股票... 作为一个曾经Macro Trader, 看我...
|
谈股论金 |
2010-6-08 周二, 01:50 |
| [分享]Toxic metal in kids' jewelry from...
|
海归主坛 |
2010-1-11 周一, 10:13 |
| |
|
|
|
| 返回顶端 |
|
 |
|
-
 George Soros: CDS are truly toxic -- tahiti - (1441 Byte) 2009-6-14 周日, 22:36 (1754 reads)
|
|
|
|
您不能在本论坛发表新主题, 不能回复主题, 不能编辑自己的文章, 不能删除自己的文章, 不能发表投票, 您 不可以 发表活动帖子在本论坛, 不能添加附件不能下载文件, |
|
|
