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Bearishly Bullish
The Compound and Friends
Credit Swaps on Credit Squeeze
CDSs are people buying insurance against the solvency that default risk, whatever of an institution. So it's just like put options on steroids. If you were bearish on credit squeeze, you buy credit default swaps and now you just got paid. I mean, these are a lot more tricky than put options that are also... Is it not retail? No. This is international bank of settlement stuff. Right. You have to... Like Duncan puts the shit on. Yeah. It was a $2 stock last week. Nobody's blown out of the way. nobody's.
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