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To: Zeev Hed who wrote (6689)9/24/1998 8:06:00 PM
From: Henry Volquardsen  Read Replies (1) | Respond to of 9980
 
Zeev,

It means among other things that UBS announced a loss of just short of a billion Swiss francs today. They were rumoured to be the largest investor in LTC.

Henry



To: Zeev Hed who wrote (6689)9/24/1998 10:35:00 PM
From: Jay Scott  Read Replies (1) | Respond to of 9980
 
Zeev, I'm confused. Do the new investors have 90% of the net equity capital or have they assumed 90% of the total fund holdings? With as much leverage as they are reported to have employed, it could make a big difference, such as whether the original investors are left largely intact...

JS


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