Contagion: Chain Reactions and the CoCo Powder Keg
Many Happy Returns
Why Do People Buy Cocoa Bonds?
HSBC stock, as we're recording this on a Monday morning, was down 6% in Hong Kong. And interestingly, they did issue fresh 81 cocoa bonds just three weeks ago. But these things are issued all the time because regulators absolutely love them. If something sounds too good to be true, it probably is. Always ask yourself, what could go wrong? What am I getting paid for? And is this sufficient compensation for taking that risk?
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