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imagine that Joe Sixpack offered to sell you a CDS on your $320,000 loan to your friend for $1,600 a year for five years. Joe is doing well, has a million-dollar house with no debt, and is therefore “good for the money.” Happy with $1,600 a year in extra income, Joe continues to sell CDSs on residential mortgages. Unregulated, he sells a thousand j
... See moreEdward O. Thorp • A Man for All Markets
Walter Briggs
@walterbriggs-3c44
He took over potash and phosphorus manufacturing and choked off his competitors’ supplies.
