Betting on someone's demise?
So I'm trying to figure out what job or position this guy I know of who calls himself the "merchant of death".
He claims to sell products or something where he makes money depending on a person's life expectancy or when he or she dies. It has something to do with betting on when someone is going to die and making money on it. I don't know if this is a real product of some sort but I thought you traders would know something about this. It sounds very nebulous and unclear, so is there such a thing as described or is this guy a lying son of a bitch.
I don't know him so I couldn't ask him upfront. I don't have any more details to offer, the information I received was vague at best.
posted 90 minutes ago:
http://www.wallstreetoasis.com/forums/viaticals
These are some old stuff Chiang! But Merchant of Death? lol r u serious
I suspected it might be viaticals but wouldn't the payout be off decades later? I'm wondering how this guy gets paid now assuming that's all his company does. Perhaps they break it up and sell off pieces to other investors?
I'm thinking it's something else.
Death benefits come is as people die. Not everyone in a securitized portfolio dies at the exact same time.
Are you just screwing with me by posting this an hour after I posted "Viaticals"
That's how he rolls at Bank of "Ameria"
Hahah. It's all in the details. Nice catch. Isn't that how Jeff Chiang spelled it in his infamous BoA/MS letter.
To the "c"... or lack thereof.
That is correct.
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