Jacob Kaplan-Moss
Activity tagged “greedybastards”
Bookmarks
[PDF] ABS and CDOs: Record Performance Continues
A JP Morgan prospectus from December 2004 covering CDOs. This actually explains pretty well why these investments were so hot: BBB-class CDOs were paying out at 3% above LIBOR (about 8% total). That's an amazing return on something rated so well. I'd have bought, too.