SSRN-Are There Benefits to Being Naked? by Giovanni Calice, Jing Chen, Julian Williams

Possibly the best name for an academic paper I have ever seen. AND it is a good paper!SSRN-Are There Benefits to Being Naked? by Giovanni Calice, Jing Chen, Julian Williams: "In a naked CDS position a party pays an income stream to a seller of protection to swap away default risk on an underlying bond without actually holding the underlying bond. In this paper we construct sector level