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Newcastle Investment (NCT +4%) hits a 52-week high as the sale of the firm's interest in a CDO...
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Friday, September 14, 2012, 12:44 PM ETNewcastle Investment (NCT +4%) hits a 52-week high as the sale of the firm's interest in a CDO will remove the impact of its negative book value from the NCT balance sheet and generate about a $200M gain in Q3. As part of the sale, the company purchased $101M face value in collateral held by the CDO for about 50% of par. The fancy footwork speaks well of management and of 5 more CDOs the company still manages. (PR)
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This news story has 2 comments:
I love this world. The words are "English", but meaningless to me.
I read the article linked by "PR" above, but that was just more words that I don't understand.
What is "CDO X"?