Mafia Bonds - A Deal You Can't Refuse?

What are Mafia Bonds? And should you have them in your retirement account? Italy’s Banca Generali and other investors from around the world purchased bonds (or asset backed securities) partly backed by the illicit proceeds of the Calabrian ’Ndrangheta mafia group in a transaction where consulting services were provided by accountancy group EY, the Financial Times reported this week, citing financial and legal documents.

The private bonds originated from unpaid invoices owed by Italian public health authorities that were bundled in part with assets created by front companies later deemed to have been operating on behalf of the Calabrian organized crime group, the FT said. One of the private bond deals included assets sold by a Sicilian refugee camp that had been taken over by criminals who were subsequently convicted of stealing tens of millions of EU funds.

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[PBoyle]

I see you scrolling down! Don't forget to subscribe first!

[jonasdauerbrenner]

dude, if you keep up with such interesting and yet technical topics, your channel will blow up at some point..

[PaweljongProductions]

"mobster quants" gotta love it

[romanbaczynski]

Just found this channel - hidden gem!!

[jt]

Your deadpan sardonic delivery is finely honed, sir.

In all seriousness, I learn an astounding amount by watching your channel. I frequently have to repeat viewings because you’re speaking at a level way above my comprehension.

I can’t be the only one who feels this way.

[HDTerminal]

I fund this channel around 2 weeks ago, it's really awesome.
I wish at least one of my professors were like you.

Thank you Patrick!

[traderbarry]

By far one of the most under-rated finance channels on youtube, thank you Patrick.

[mikestanmore]

Capone went down for tax evasion. It looks like organised crime has learnt from that mistake - their bookkeeping has obviously improved.

[mademaroc]

Between wirecard and the mafia bond... oh
Man! Loved the sarcasm!

[thomas.]

I’m laughing so hard in a library but all people see on my screen is a finance prof and hedge fund manager explaining things with a straight face

[ayushsharma]

" I want to teach quantitative finance to the mafiose " hahahahaha . "A financial crisis because all the leg breakers got into finance."
I am so glad I found your channel, What's the points of being a gangster if you still have to monetize your receivables.😂😂

[agdevoq]

Calabrian here. So sad to hear my hometown has such a bad reputation, but I'm afraid it's well deserved. Calabria is so far behind the rest of Italy. It looks like a developing country. I lost my father in a calabrian hospital.

Honest calabrian people try their best to change things, but there's little hope when ndrangheta alone accounts for huge percentages of the full Italian GDP. It's a cancer. We have our heroes (Nicola Gratteri) but they have not enough budget/tools/power to deal with such a huge threat.

I got tired of fighting with unemployment, and I eventually moved to Milan, where I built my future.

I really appreciate Patrick's humour, by the way. We say "ridere per non piangere!", i.e. "laugh (about something bad) so that you don't cry!".

[sammiseen]

As an Italian Guy i'd say: Ottimo Lavoro, sei un grande! :)

[amsalmeron]

Absolutely loving your content, I write on finance and technical analysis here in Brazil, would love to chat about the Mafia Quant Bubble sometime! Your sense of humour is truly unique and quite hard to find, wish you the best, man!

[antbeckley]

Brilliant brilliant videos. Thank you - great education and your delivery has me in tears of laughter. Great job.

[charles-he]

I once took a wrong turn down in taranto on the way to Nardo, and it didnt feel a safe space to stop for a pizza, the look we had pulling up outside told us to move on

[bit-silkinvestments]

I wonder if there's a channel out there teaching quantitative finance professionals how to lateral into a career in the Italian Mafia

[lucaambrogioni]

great channel! These videos will greatly help our... family business...

[anastasiaavery]

Very funny Patrick! Keep it up please...

[maximmatkovsky]

The next step could be accountants to see earnings reports before they are made public and buying or selling shares and options based on that. I suppose that the financial term can be called gangster's arbitrage. Way more money can be made and Ndranggetta's 40 billion euro yearly revenues can be multiplied without raising any eyebrows.

Thank you for the video.