tag:blogger.com,1999:blog-11336670.post7502434386900399941..comments2024-03-13T03:24:01.167-04:00Comments on Marginalizing Morons: Weekend Book RecCaptiousNuthttp://www.blogger.com/profile/14440029537418230507noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-11336670.post-10411519993482602312008-11-10T17:06:00.000-05:002008-11-10T17:06:00.000-05:00Oh man! This book. No only is it a classic, chec...Oh man! This book. No only is it a classic, check out page 80 or so (I can check this later as I have a copy at home and work). On that page, either "goodfriend" or Ranieri (sp?) talk how AWFUL these CDO's are but yet went on to sell a ton of them. The problem, they say in the book (and as I recollect) was the pre-payment option. They felt it was an awful investment as the borrower could 'pay back' the loan at any given time for par and they'd lose all the interest they were 'counting' on. Funny. How prescient was that book?! Reminds me a lot of my WFC call - muhahaha.Anonymousnoreply@blogger.com