Charles Tan, co-founder of Global Alternatives, discusses the use of asset-backed securities in today's portfolios, ten years on from the start of the global financial crisis.
Ten years ago this summer, the collapse of two hedge funds run by Bear Stearns set off a chain of financial dominoes which culminated in the global financial crisis of 2008. The repercussions still linger in our monetary system today. The instruments that these hedge funds traded, which came to define and represent the financial crisis, were asset-backed securities (ABS). And ever since, these securities have been tarred, feathered and seen by the general public as the root of all evil. Lehmans collapse/China's Black Monday/Trump win: The big market-moving events since start of th...
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