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Tanulás elkezdése
Hi, how are you?
Hey, Mr Bennet. Here we have.
- Let's see what you got. - You smell that? What is that?
- What? - What's that smell?
- Your cologne? - No.
- Opportunity. - No. Money.
- Oh... Okay. - I smell money.
- Okay.
- Chris... - Damn it. Sorry.
This is your basic mortgage bond.
All right? The originals were simple.
They were just thousands of triple A mortgages bundled together,
guaranteed by the U.S. government.
The modern ones are different.
They're private. And they're made up of layers of tranches.
Highest level, triple A, is getting paid first.
The lowest rated, B, is getting paid last, taking on defaults first.
Now, obviously, if you're buying B's, you could make more money.
But they're a little risky.
Sometimes they fail.
Chris?
Somewhere along the line, these B's and double B's went from a little risky
-to dog shit. Where's the trash? - Behind you.
I'm talking rock-bottom FICO scores.
No income verification.
Adjustable rates. Dog shit!
The default rates are already up from one to four percent, fellas.
And if they rise to eight percent, and they will,
a lot of these triple B's are going to zero, too.
And that...You're too close. ...is an opportunity.
Okay, you're saying that at eight percent the bonds fail
and we are already at four percent?
- That's right. - If they go to eight, it's Armageddon?
Yeah. That's right.
How come nobody's talking about this?
You're completely sure of the math?
Look at him. That's my quant.
- Your what? - My quantitative!
My math specialist. Look at him.
You notice anything different about him? Look at his face.
That's pretty racist.
Look at his eyes! I'll give you a hint.
His name's Yang!
He won a national math competition in China!
He doesn't even speak English!
Yeah, I'm sure of the math.
Actually, my name's Jiang and I do speak English.
Jared likes to say I don't because he thinks it makes me seem more authentic.
And I got second in that national math competition.
So, you're offering us a chance to short this pile of blocks? How?
With something called a credit default swap.
It's like insurance on the bond, and if it goes bust
you can make ten-to-one, even twenty-to-one return.
And it's already slowly going bust!
Ten-to-one? Twenty-to-one? No way.
And no one's paying attention.
No one is paying attention!
Because the banks are too busy getting paid obscene fees, to sell these bonds.
But wait. You are the bank.
Well, you work for the bank. I bet your margins are pretty nice and fat.
Let's not talk about my margins, by the way.
Being nice and fat, that's a nice shirt. Do they make it for men?
Aren't you the bank?
I work for the bank. I don't think like a bank.
Big bank, small bank, I like to make money. All right?
Let me put it this way. I'm standing in front of a burning house...
And I'm offering you fire insurance on it.
A's, zero. B's, zero. Double B's, zero. Triple B's, zero.
And then that happens.
What is that?
That's America's housing market.
verification - igazolás
triple - hármas
thousands - több ezer
thinks - azt hiszi
think - gondol
these - ezek
talking - beszél
standing - álló
government - kormány
english - angol
bennet - Bennet
double - kettős
defaults - alapértelmezett
trash - szemét
speak - beszél
fellas - fiúk
level - szint
default - alapértelmezett
competition - verseny
getting - szerzés
front - elülső
mortgage - jelzálog
mortgages - jelzálog
happens - megtörténik
chance - véletlen
eight - nyolc
banks - bankok
quantitative - mennyiségi
obscene - obszcén
could - tudott
offering - ajánlat
taking - bevétel
authentic - hiteles
tranches - részletben
credit - hitel
right - jobb
buying - vásárlás
somewhere - valahol
anything - bármi
money - pénz
chris - Chris
specialist - szakember
about - ról ről
close - bezárás
along - mentén
cologne - kölni
called - hívott
going - haladó
guaranteed - garantált
actually - tulajdonképpen
already - már
jiang - Jiang
attention - figyelem
bonds - kötvények
notice - értesítés
armageddon - Armageddon
basic - alapvető
blocks - blokkok
highest - legmagasabb
layers - rétegek
bottom - alsó
adjustable - állítható
modern - modern
different - különböző
racist - rasszista
simple - egyszerű
burning - égő
house - ház
housing - ház
little - kicsit
because - mert
lowest - legalacsonyabb
private - magán
insurance - biztosítás
likes - kedvel
behind - mögött
makes - gyártmányú
scores - pontszámok
margins - margók
income - jövedelem
opportunity - lehetőség
national - nemzeti
smell - szag
obviously - magától értetődően
together - együtt
bundled - csomagban
originals - eredetik
completely - teljesen
rates - árak
sorry - sajnálom
china - Kína
paying - fizető
small - kicsi
percent - százalék
first - első
pretty - szép
quant - rúddal hajt
rated - névleges
jared - Jared
return - visszatérés
Kattints egy szóra vagy jelölj ki egy mondatot, hogy lásd a fordítást.
Kattints a "plus"-ra, hogy hozzáadj egy szót/mondatot a tanulandókhoz!
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