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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (34074)4/6/2009 2:57:38 PM
From: Madharry1 Recommendation  Read Replies (1) of 78748
 
what is interesting is that in the same barrons a couple of pages later is an artice about one of blacks private equity funds and how its selling at huge discount to the reported bookvalue. and the article goes on to point out that the debt related to these investments is going or 10-20 cents on the dollar. This of course makes me wonder what sort of due dilligence the fund guy did when he recommended mvc as there is no discussion as to what the debt of the companies mvc has invested in is gong for. so how do we know whether the mvc valuaton is conservative or not. All in all one has to question whether sarbanes oxley has been worth anything at all for investors. I read that that kpmg is being sued big time in connecton with their preparation of the financial statements of new century and Im sure we will see lots of lawsuits by investors against the rating agencies in connection with their work on mortgage products. Sometimes the only recourse against dishonesty is legal redress.
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