Monday, October 29, 2007

Fairfax CDS Gains Demystified

Over the past few days, I have been posting about my expectations for huge gains in Fairfax's Credit Default Swap portfolio based on the terrible news the underlying companies have been reporting and the sharp drops in their stock prices. But the actual gains was still up for speculation because I could not find information on the actual credit default spreads for these companies. Well today, I received just that.
(Note: Current day refers to Oct. 26)

Spaced out by Oct'06- June'07- July'07- Sept'07- Current Day

Ambac 11- 47-152- 180-478

AIG 10- 13- 53- 32- 53

Countrywide 36- 67-136- 260-410

Freddie Mac 5- 9- 27- 17- 25

MBIA 22- 65-160- 132-302

MGIC 30- 70-206- 163-381

PMI 30- 45-106- 132-318

Radian 32- 72-216- 379-784

Washington Mutual 22- 41-82- 91- 154

The scale for the table and the chart use the last day of the month, and Fairfax's last CDS update was on July 31st. So if you compare the July '07 numbers with the current day numbers, you can get a sense for just how much some of these positions have appreciated.


mmospy said...

Hi, do you mind telling me what software this is?


Nnejad said...

This was shared with me by someone else so I am not sure, but it appears to be a Bloomberg product. If you look on the bottom of the chart it says "copyright 2007 Bloomberg L.P.".

Anonymous said...

It's the standard Bloomberg terminal. For anyone that has access to one, use function GCDS to pull this up.

Anonymous said...

[b]adobe acrobat 9 tutorial, [url=]microsoft office 2007 enterprise german netload dlc[/url]
[url=][/url] sms store software FileMaker Pro 9
software store glenwood [url=]order software review[/url] source shop software
[url=]acdsee[/url] buy discount software
[url=]university software discount[/url] reseller management software
software key for adobe photoshop cs4 [url=]download nero 5 5[/b]

Anonymous said...

[b]academic library software, [url=]purchase 2.0 software[/url]
[url=][/url] cheap discount software buy microsoft server software
cheapest place to buy software [url=]buy photoshop cs2[/url] university software discount
[url=]adobe connect software[/url] windows vista service pack 2
[url=]discount for software[/url] pc software to buy
downloadable freeware software [url=]downloadable freeware software[/b]

Anonymous said...

[b]profit discount software, [url=]free adobe photoshop cs4 software[/url]
[url=][/url] cs3 discount software message store software
oem software what is [url=]office 2007 oem software[/url] filemaker pro 10 windows torrent
[url=]filemaker pro exits[/url] office 2003 copy and paste ahngs on vista
[url=]newbyte educational software[/url] windows xp software to buy
macromedia dreamweaver 8 software [url=]software cd purchase[/b]

Anonymous said...

[b]store register software, [url=]photoshop software to buy[/url]
[url=][/url] cheap find here software pro cheap software
cheapest place to buy photoshop [url=]side by side comparison of indesign cs3 and quarkxpress 7[/url] software biz reseller
[url=]nero 9 crack torrent[/url] autocad 2007 crack
[url=]its software store[/url] nero 9 discount
coreldraw 12 graphics suite downloads [url=]key cho acdsee pro[/b]

Anonymous said...

[b]microsoft astronomy software, [url=]order taking software[/url]
[url=][/url] student discount for microsoft office software companies for sale
autocad free [url=]discount music software[/url] discount adobe software for
[url=]quicktime for windows xp[/url] softwares downloads
[url=]ip spoofing windows xp[/url] adobe software educational discount
buy dragon software [url=]to buy pirate software[/b]

Anonymous said...

Casino Money tyuueooru - Best Online Casino
On the other side, people seem to be more interested in participating in online casino compared to land-based casinos.
[url=]Online Casino Game[/url]
Play wherever and whenever you want The best thing about online casino is that you don?t have to visit your local casino in order to meet your gambling desire.
Play Online Casino
No matter how far your casino is located With online casino, you don?t have to worry about the location of your casino because the only thing that creates between you and your casino experience is the internet, so all you need to do is getting connected to the Internet and you can enjoy the gambling without having to spend your time visiting the local casinos out there.