Triple Aaa Quotes

Los inversores protagonistas de su libro no entendían por qué se daban préstamos hipotecarios para comprar viviendas a personas que básicamente no tenían ingresos y era muy probable que dejaran de devolver el dinero en algún momento. ¿Por qué los bancos daban esos créditos? La respuesta, descubrieron, era porque no se quedaban con ellos, sino que luego los vendían a Goldman Sachs, Morgan Stanley y Wells Fargo, entre otros. Estas empresas creaban bonos hipotecarios juntando hipotecas de distintas calidades. En un bono había partes de hipotecas calificadas como triple A (de devolución segura), como doble A (de devolución casi segura) y así sucesivamente hasta hipotecas calificadas como B, mucho más arriesgadas. Si se compraban bonos formados solo por hipotecas AAA, se arriesgaba poco, pero también se ganaba poco. Si se optaba por bonos formados por hipotecas B, se arriesgaba mucho, pero se podía ganar mucho. Si se combinaban esas hipotecas de distintos riesgos y rentabilidades se lograba, simplemente, lo que pretendían los derivados: eliminar el riesgo. Era posible que alguna de las hipotecas que formaban parte del conjunto no se pagaran, pero ese riesgo quedaba diluido entre muchas otras hipotecas que sin duda se devolverían.

When playing a bear market, the same rules hold: You want to diversify your risks, especially knowing that collapses move even faster than rallies. You need to decide how much safe cash or near cash you want to hold to sleep at night and to handle financial emergencies, like the loss of your job or your house. Then decide how much to put into longer-term high-quality bonds, like those 30-year Treasuries and AAA corporates, but I think it’s still premature to make this move at the time of this writing, in August 2017. Then decide how much you want to put into a dollar bull fund or the ETF UUP, which tracks the U.S. dollar versus its six major trading partners. If you’re willing to risk part of your wealth, you can also bet on financial assets going down—from stocks to gold. Stocks are the one type of financial asset that goes down in either a deflationary crisis, like the 1930s, or an inflationary one, like the 1970s. So shorting stocks is the best way to prosper in the downturn, either way. But don’t leverage this bet. The markets are simply too volatile. You can short the stock market with no leverage by simply buying an ETF (exchange-traded fund) like the ProShares Short S&P 500 (NYSEArca: SH). It’s an inverse fund on the S&P 500, so if the index goes down 50 percent, you make 50 percent. The ProShares Ultrashort (NYSEArca: QID) is double short the NASDAQ 100, which is likely to get hit the worst. If you make this play, just do a half share, to avoid that two-times leverage (hold the other half in cash or short-term bonds). Direxion Daily Small Cap Bear 3X ETF (NYSEArca: TZA) is triple short the Russell 2000, which is also likely to lead on the way down. So buy only a one-third share of this one, to remain without leverage. (That means the money you allocate here should be one-third in TZA and two-thirds in cash, to offset the leverage.) And unlike the gold bugs, I see gold collapsing. It’s an inflation hedge, not a deflation hedge. If gold rallies back as high as $1,425—on my predicted bear-market rally—then it could easily drop to around $700 within a year. Your last decision is whether to risk some of your funds betting on gold’s downside, for the greatest potential returns. You can buy DB Gold Double Short ETN (NYSEArca: DZZ)—double short gold—at a half share, to offset the leverage, or just simply short GLD, the ETF that follows gold. There you have it. How to handle the coming crash.