O que veremos neste artigo:
No mundo financeiro, alguns produtos são complexos e desafiadores de entender, como os Títulos de Dívida Garantida (CDOs). Com o intuito de simplificar esse conceito, este artigo abordará as características fundamentais dos CDOs, incluindo definição, riscos, tranches e muito mais. Confira o vídeo a seguir para ter uma explicação visual detalhada:
Definição e Composição
Os Títulos de Dívida Garantida (CDOs) são semelhantes aos títulos lastreados em hipotecas, nos quais os bancos vendem empréstimos para bancos de investimento, que os agrupam e criam títulos vendidos para investidores. No caso dos CDOs, uma ampla gama de dívidas, incluindo hipotecas, dívidas de cartão de crédito, dívidas corporativas, entre outras, é incluída. Esta composição complexa pode confundir, mas é essencial compreender como os CDOs funcionam no mercado financeiro.
Tranches: Atendendo a Diferentes Apetites de Risco
Uma das características distintivas dos CDOs são as tranches, que são criadas para atender aos diferentes apetites de risco dos investidores. As tranches oferecem recompensas e classificações de crédito variadas, permitindo que investidores com perspectivas de risco diferentes possam participar do mesmo produto financeiro. Isso demonstra como os CDOs são estruturados para acomodar uma gama diversificada de investidores.
Riscos e Preocupações
Os CDOs apresentam riscos, especialmente no que diz respeito aos diferentes níveis de pagamento e reivindicação sobre o colateral em caso de inadimplência. As tranches sêniores têm prioridade sobre o pagamento do colateral, enquanto as tranches júniores são as últimas a serem pagas. Essa estrutura complexa envolve considerações sobre diversificação e preocupações sobre a complexidade e impacto potencial para a economia global.
FAQ
O que são Títulos de Dívida Garantida (CDOs)?
Os CDOs são produtos financeiros complexos que incluem uma variedade de dívidas, como hipotecas, dívidas de cartão de crédito e dívidas corporativas, agrupadas e vendidas para investidores.
Qual é a função das tranches em um CDO?
As tranches são criadas para atender aos diferentes níveis de risco e preferências de recompensa dos investidores, oferecendo classificações de crédito e recompensas variadas.
Conclusão
Em resumo, os Títulos de Dívida Garantida (CDOs) são produtos financeiros complexos que envolvem uma ampla gama de dívidas, estruturadas para atender aos diversos apetites de risco dos investidores. Essa complexidade envolve considerações críticas sobre riscos e recompensas. Compreender os CDOs é fundamental para os investidores e participantes do mercado financeiro.
Não deixe de conferir o vídeo fonte para uma explicação visual mais detalhada sobre os Títulos de Dívida Garantida (CDOs).
[Fonte](https://www.youtube.com/watch?v=2oyXK-G7GiI)
Quick note, as always, in light of the difficult times many of you are surely going through: first and foremost, stay safe out there and don't expose yourself unnecessarily. But since you are home, please don't waste your entire day watching Netflix and instead, pay attention to the economic dimension of what is happening as well. More specifically, think about what the economy we will be returning to will look like when all is said and done. For the foreseeable future, I will try to exclusively publish videos which help with just that (videos about the financial system, risk factors it makes sense to be aware of and so on… there is a reason why I have published a video about Mortgage-Backed Securities, followed by one about credit rating agencies, followed by one about Collateralized Debt Obligations, with one about Collateralized Loan Obligations coming on Sunday). If you are in need of assistance or simply just a sympathetic ear, I'm here for you and can be reached at andrei at one minute economics dot com 🙂
THE BIG SHORT
Thanks for these videos! Super appreciate them!
A couple questions that came up during this time: do the investors have access to the individualized bureaus or at least credit scores of the people/companies involved in these CDOs? How much of it is based on trust of the investment bank? Does the investment bank have any incentive to not be honest with the ratings? Do the investors get paid on defaults, on successful payoff of the loans, or are there different CDOs that are based on different indexes?
Thank you so much!
First of all I love the channel and as you said I think now is a good time to try and increase my knowledge rather than wasting these months doing nothing.
I have a few questions. So Mortgage Backed Securities are a type of CDO? From watching The Big Short I thought that CDOs were often used as a way to use up all the rubbish mortgage bonds that nobody would initially buy due to their poor credit ratings. So was the main reason why CDO's had such a catastrophic impact in the financial crisis because the rating agencies gave these 'junk' mortgage bonds high ratings that they didn't warrant? Were CDO's largely used to mask worthless Mortgage bonds and get a ridiculously high rating to screw investors?
Came here after The Big Short
Why are CDOs considered dogshit wrapped in catshit in The Big Short movie??
And while discussing these ratings and tranches… who tells the investors that the "AAA" loan is really an "AAA" loan.
The hierarchical organisational chart confused me why are mezzanine tranches subordinate to junior tranches?
One Minute Economics needs your help! Please give me a minute (heh) of your time by watching the following video if you find the channel useful, literally anyone can help (either financially or by spreading the word about my work): https://www.youtube.com/watch?v=io04ckq1X1M
This is the reason behind the 2008 financial crisis. Banks like Goldman Sachs etc selling these kinds of derivatives and the world's biggest insurance company AIG were bailed out by US govt to the tune of $700bn. Millions unemployed, millions of homes were foreclosed, banks got bailed and bankers who caused this mayhem received even bigger bonuses. The US govt is being run by the banks.
Didn't understand anything
I'm here because I need to write an essay on how the financial crisis from 2008 to 2009 began lol
If you invest on this and people dont pay their loans what happens to your money? You just get it eventually but it takes more time if you are a junior investor or you could potentially lose your money?
CDO's
Dogshit
Synthetic CDOs lmfao
thank you for explaining this so clearly
Saffron Finance brings this to blockchain. Big Defi gem if anyone is interested in crypto
It is happening all over again what happened in 2008.But now they call the instrument ""bespoke tranche opportunity""
Important update! The situation in Ukraine is BAD and action must be taken. If this channel has been useful to you at least once, please give me a minute (!) of your time by watching the following video dedicated to what I believe must be done from an economic perspective (anyone can help): https://www.youtube.com/watch?v=nuZI_qBHyaY
Poorly explained and confusing!
I'm not a native speaker and I feel so hard to understand what you said :((
If you liked this video, I think you'll love The Age of Anomaly, my Wall Street Journal and USA Today best-selling book about preparing for financial calamities (whatever they may involve). You can buy it over at:
1) Amazon: https://www.amazon.com/Reasonable-Case-Bitcoin-Andrei-Polgar-ebook/dp/B09G6Z45QB
2) Barnes & Noble: https://www.barnesandnoble.com/w/the-age-of-anomaly-andrei-polgar/1127084693?ean=2940155383970
3) Apple Books: https://books.apple.com/us/book/the-age-of-anomaly-spotting-financial-storms-in/id1331704265
4) Kobo: https://www.kobo.com/ww/en/ebook/the-age-of-anomaly-spotting-financial-storms-in-a-sea-of-uncertainty
Sir, nothing is hard to understand IF you have a good teacher so with that said because YOU think its hard to understand and say so then YOUR not a goid teacher for others! bye
I Didnt Understand Shit
Prime minister
Does the CDOs are effected by interest rates when the Fed raise them ?
GiganticWebsites.com is a project through which I make it possible for people to build truly gigantic websites (thousands of articles each!) at ridiculously low prices. If you have a great domain you want to turn into an amazing website or an existing site you'd like to upgrade/scale, visit our website or check out the One Minute Economics presentation video below:
https://www.youtube.com/watch?v=gE8yEOQFMvo
Please note that this comment is not an ad for a third-party service provider. GiganticWebsites.com is my baby 100% and I will personally be involved in each and every project so as to ensure the website turns out great 🙂
CDO are nothing but bunch of small cap high risk high return stocks that are bundled together to look like psuedo large cap stocks but rating is below senior stocks i.e Blue chip stocks.Of course returns are lucrative but it's nothing but "big ass fart".All sound no smell😂😂
awesome video!
So basically we issue out securities for a asset backed loan and depending on the rating certain investors take on the risk or not which is why some people are denied loans due to the packaging of the asset back securities either too low or too high for the investors risk tolerance 🤔🤔