Precious and Base Metal Investing Message Board

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Gold/Mining/Energy : Precious and Base Metal Investing

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To: russwinter who wrote (13210)	6/29/2003 4:53:02 PM
From: aknahow	Read Replies (3) of 39344

Not sure what you mean by stating , " BTW, 14% of all home mortgages are now ARMS" Institutions making or writing adjustable rate mortgages take a smaller interest rate risk but a larger default risk. Does the present yield curve present greater risk? Sure. Is there a housing bubble? Sure Is there counter party risk? You have the wrong idea of how the mortgage market works if you think the enire loans are not sold and then packaged for resale either as pass thrus, or parts of CMOs' . Plently of risk in the system today. A lot more than usual. But that is no reason to make incorrect statements about how things function. Tell me about the book about Long Term capital. Did you read it? Or do you just post links to it? Did fail because it used complicated hedges or because it made highly leveraged unhedged bets?

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