no they are not

they are calling it "naked" CDS, pretty much nothing back it up. it is not zero sum game AT ALL.

所有跟帖： 

• 好了, 有人出来支持我了. BAY兄弟一头钻进零和游戏出不来了. -冬里- ♀ (13 bytes) () 10/02/2008 postreply 20:11:13

• right now, nobody can tell us how much the loss will be -大猪头- ♂ (41 bytes) () 10/02/2008 postreply 20:21:00

• probably his understanding of 零和游戏 is counter -冬里- ♀ (121 bytes) () 10/02/2008 postreply 20:31:26

• just wait for M兄出穴 :-) -dca- ♂ (0 bytes) () 10/02/2008 postreply 20:23:32

• zero sum of nobody bankrupt, not aero sum otherwise. -729418- ♀ (0 bytes) () 10/02/2008 postreply 20:31:28

• 有人破产还是zero sum 啊。 -BayFamily- ♂ (78 bytes) () 10/02/2008 postreply 20:36:49

• 不是零和的衍生产品很少。 -bayfamily- ♂ (81 bytes) () 10/02/2008 postreply 20:32:48

• CDS不是OPTION. 这是一种非常常见的误解. -冬里- ♀ (51 bytes) () 10/02/2008 postreply 20:42:48

• CDS是SWAP，还是零和啊。没听说过不是零和的SWAP -BayFamily- ♂ (0 bytes) () 10/02/2008 postreply 20:48:06

• CDS是和人寿保险一样的东西. 是个不对称的SWAP, 当然不可能零和 -冬里- ♀ (359 bytes) () 10/02/2008 postreply 20:55:42

• 这个懂了 -风花雪月~- ♀ (4 bytes) () 10/02/2008 postreply 21:01:30

• 这不是和我一开始说的一样吗？ -BayFamily- ♂ (220 bytes) () 10/02/2008 postreply 21:10:22

• 完全不一样. -冬里- ♀ (158 bytes) () 10/02/2008 postreply 21:14:45

• Someone made huge money from CDS market nowadays -Aceofspades- ♀ (143 bytes) () 10/02/2008 postreply 20:43:35

• 终于有人出来替我说话了。呵呵。 -BayFamily- ♂ (63 bytes) () 10/02/2008 postreply 20:50:08

• I think you are right, it is still a zero sum game -Aceofspades- ♀ (53 bytes) () 10/02/2008 postreply 20:52:27

• Our trading desk made 35 million yestday from CDS/CDX -miat42- ♂ (0 bytes) () 10/03/2008 postreply 06:20:37