BearHunter

🚨🇺🇸 Remember credit default swaps? The thing that blew up the world in 2008? They were so dangerous regulators spent years trying to rein them in. Wall Street just brought them back for a new sector. S&P Dow Jones is launching a credit default swap index tied to 25 North American financial firms, including giants like Blackstone, Ares Capital and Apollo. Major banks start selling it next week. Here's why it matters: private credit has been on shaky ground. Investors are pulling money out at an accelerating pace over fears that AI is going to gut the software companies these funds have been lending to. A CDS index means hedge funds can now short the entire sector in one trade. This should sound familiar. Credit default swaps were at the center of the 2008 financial crisis. Banks used them to hedge risk on mortgage debt that was already rotting from the inside. The instruments didn't contain the damage. They amplified it. Private credit is a different sector and the scale is smaller. But the pattern is the same: rapid expansion, first real stress test, and Wall Street's answer is to build new derivatives around it. The last time they did this, it didn't end well. Source: Reuters

I was planning on attending XRP Vegas this year, but life had other plans. My wife gave birth last month, so I’m staying back to be with her and our newborn. This is where I’m needed most right now. I also made a conscious decision to take everything I would have spent on the trip and deploy it into investments. Given what’s unfolding globally, that felt like the smarter move. To everyone attending, enjoy it, connect, and stay sharp. We’re living through a pivotal moment, and how you position yourself today will matter more than ever.

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