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Enterprising Investor

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Enterprising Investor

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Re: Enterprising Investor post# 756

Friday, 11/27/2009 12:40:31 AM

Friday, November 27, 2009 12:40:31 AM

Post# of 1731
Cerberus purchase of Orkney I debt - more thoughts.

Based on the market value of Collateral Finance Facilities detailed in the quarterly reports, a good estimate of the cost would be around $500 million. It may be signicantly less depending on the timing of the purchase and the motivation of the sellers. Needless to say, recovery to full value would partially offset any potential loss on the Cerberus investment in the ME.

I also believe like H Man Investor that the ME investors are focused on recovery of capital at this point in time.

If you aren't an Enterprising Investor, become one—you'll love making money like Benjamin Graham.

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