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Strategies & Market Trends : Asia Forum
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To: Jay Scott who wrote (6686)9/24/1998 7:51:00 PM
From: Zeev Hed  Read Replies (2) of 9980
 
Jay, of course it was "orderly liquidation", the original investors are left with 10cents on the dollar invested. The "new investors" own 90% of the fund, and according to Weil (on NBR), the new investors ($3.6 billions of which Travelers put up $300 MM) are buying at 1/10 of what the portofolio cost was (well, whatever that means in a hedged situation).

Zeev
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