Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (66145)	6/13/2007 11:38:17 PM
From: Yulya	of 116555

If you read the article very carefully, towards the end you will discover the real reason for the redemption suspension. The hedge fund sold some of their riskier CDO's to a BSC affiliate in exchange for shares in the unlisted affiliate, which BSC is trying to sell to the public via an IPO. Get the picture? $400 million of the funds' assets are in non-marketable securities (the said unlisted shares)...assuming the valuation holds up when/if the IPO takes place as planned.

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