Agree. And i think you will find that CIX was the only insurer, bank or investment manager to exit CDOs BEFORE the market turned south! (talk about good timing!). AND they extended duration at the start of 2007. Someone there is a smart monkey.
Suprised this one continues to slip under the radar of the larger end of the market. Not for long is my guess.
Best regards
Kit
something to watch, page-15
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