关于risky assets under-pricing? what do you mean? I think they were overpricing, so not the world are dumping risky assets and fly to safer assets.

housing down another 1.5% can i have the full news ? thanks!

based on those subprime.


由于derivatives有高的leverage效果，所以就这么扩大的。由于国际化，资金流动自由，所以美国出问题，别的地方受影响。而相对资金比较封闭的地方受影响就少。

就是讨论一种可能性，嘿嘿。


另外，几个月真的不长。只算中期，speculatist的理想活动时间段。


你觉得nickle能跌到多少？

they are all there, isn't it ?：）

assuming bank A, it give money to some poor credit people .

they use this mortgage to sell CDO, then they get money back in (proceeds of cdo sales)


they use the new proceeds to issue more mortgage, and use new mortage to issue cdo,

they have new proceeds,


so the whole process, you can see, nothing is really created , i.e. no real values there, but the money is more and more created, why?




root of all,

they securitized "CREDIT". credit , previously was some virtual invisible stuff, now become the real money, they are now same as the house, the factory, the gold, they can sell for money.



Use Credit to get money,

Leverage.

这个版老老实实做功课的可能真的不多。


其实有些事情，甚至是market view / market FEEL，如果功课做足，把自己沉浸在里面，也是很能感觉得到的。



支持认认真真做功课的高手。