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A Fund Behind Astronomical Losses.
- Source :
-
Wall Street Journal - Eastern Edition . 1/14/2008, Vol. 251 Issue 11, pC1-C2. 2p. - Publication Year :
- 2008
-
Abstract
- The article discusses a hedge fund owned by trader Alec Litowitz and his Magnetar Capital. Litowitz allowed the creation of collateralized debt obligations (CDOs), which are large packages of subprime-mortgage securities and derivatives grouped together and sold in chunks to global investors. Magnetar sold $30 billion worth of these packages in 2006-07. The author states that many of these packages got liquidated causing major losses on Wall Street.
Details
- Language :
- English
- ISSN :
- 00999660
- Volume :
- 251
- Issue :
- 11
- Database :
- Academic Search Index
- Journal :
- Wall Street Journal - Eastern Edition
- Publication Type :
- News
- Accession number :
- 28344283