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Newcastle Investment (NCT +4%) hits a 52-week high as the sale of the firm's interest in a CDO...

Newcastle 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)
Comments (2)
  • Can anybody jump start me on understanding this.

     

    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"?
    14 Sep 2012, 04:17 PM Reply Like
  • collateralized debt obligations x..I think they group them together and give them a name in this case its "x". I could be wrong though.
    18 Sep 2012, 08:41 PM Reply Like
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