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December 04, 2018

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Robert Mitchell

The finance way to bet is to sell a bond to three people: one provides principal, one takes the interest rate risk, the third takes default risk. You bet the principal. If you lose, the default risk buyer pays. He too can issue a sliced bond so his default risk is covered. Thus the endless cycle continues. You make free bets, as long as you are good at selling sliced up bonds (derivatives).

dilbert dogbert

An murikan saying: Born on Third Base and Thinks He Hit a Homerun. Applies to our current holder of the oval office.

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