Another good description of total return swaps from WSJ:pic.twitter.com/HhQCrfQlmk
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Warren Buffett explaining total return swaps & their risk to markets in his 2003 letter to investors:pic.twitter.com/WuQM0zFuac
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100% leverage in 2003. 600% leverage now. Yet the Fed still claims there’s no inflation
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strengthens case for UMR imo as equity TRS fall in scope (phase 5 this Sep, big one next Sep)
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(not what WEB said above, but this fund blowup event)
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@pdfmakerapp grab this -
Dia dhuit, your archive is ready at https://threadreaderapp.com/pdfs/nxghOE18O . Take care!
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