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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: tom pope who wrote (26602)	4/8/2008 10:08:03 PM
From: Robohogs	Read Replies (1) \| Respond to of 52153

With derivative credit spreads at 375 bps and this stuff probably priced at 225-250 bps, it would appear to me the PE shops did pretty well. I was at an opening celebration of a PE firm's HK opening last night talking to ex-colleagues now working at one of the better lending orgs. They started a fund buying this stuff at 95 cents, it fell to 87 cents or so and is now back around 90. So fair price. EDIT - Also this is consistent with the DB charges last week, which the press put down as subprime (actually leveraged loans for most part). These loans BTW apparently eat 100% capital once they fail to syndicate so this is a pretty big pick up to the ratios. Jon