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CDO 'Samaritan' Hildene Duels Funds Over Collateral

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OH THE PLACES YOU'LL GO FOR YOUR CDO
If you believe your assets are worth more than the market suggests, here's an inspirational story for you. "Hildene Capital Management LLC, the $150 million hedge fund that gained 33 percent last year, is fighting firms 100 times its size to preserve the value of collateralized debt obligations holding bank securities," Bloomberg reports. "“It’s scary,” said Brett Jefferson, the chief investment officer and founder of New York-based Hildene, which posted a half dozen letters in the past six months complaining about the deals on the Irish Stock Exchange, where CDO debentures are listed. “We’ve got all our eggs in this basket and I’m less worried about bank failures than people doing these roundabout things.”"
 
SOURCE:   Bloomberg

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