Category: Snow

White snow, red ink, black swan: Part 2, unfortunately, you bought our never-pay policy

11 February, 2010 (10:39) | Capital markets, CDSs, Finance, Regulation, Snow, Speculation, United Kingdom | 1 comment

By: David A. Smith   [Continued from yesterday’s Part 1.]   Yesterday, in our real-world metaphor for capital markets’ shenanigans, we encountered probabilistic meteorologist Cliff Bryant, who parlayed his interest in White Christmases into two tickets that, if honored as he thinks they should be honored, will be worth several million pounds.   Might two […]