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Ben Hunt of Epsilon Theory on Turning Layups into Losses, UK Pension Problems, Building Community & Much More (EP.225)
Panic with Friends - Howard Lindzon
Leverage on Marketable Securities
Leverage on marketable securities. If you keep these loans or these obligations on your balance sheet and you don't market them, you say, we're just going to hold the maturity. You can extend and pretend. To marketable security like we did mortgages leading up to the O8 debacle. When you turn them into marketable securities and you put leverage on them, that's what breaks the world. That's where the crisis is going to come from as interest rates go up around the world.
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