The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Paul Kern who wrote (79326)	2/26/2007 3:28:56 PM
From: Broward Horne	Read Replies (3) of 110194

You have to wonder if LongIslandGuy's self-validation is signalling a market top. :) Why the heck isn't anybody talking about the ABX numbers? As near as I can tell, they're pricing a 30% loss in the subprime loans. If so, then the implication is a failure rate in the 50%+ range, I'm assuming that a defaulted loan doesn't go to zero but retains at least 50% of its value. Am I missing something here?

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