Featured in the WSJ today, Andy Beal is ramping up his put-back campaign against the evil originators. If you own any of the following bonds in the list below, you may have a friend in Andy:
CXA Corporation's Tranches Owned
ACE, BALTA, BSABS, CMLTI, GSAA, JPMAC, GSAMP, LBMLT, MLMI, MSAC, RAMC, SABR, SASC, SURF, SAST, SVHE. All the good stuff.
It seems as if Andy went long all the right kinds of resi at very good prices, no doubt. He's made a fortune a few times over and it's good to see he's still doing it. Bloomberg and WSJ have covered him pretty thoroughly in the past. I suggest the following reads for the unacquainted.
- Maverick Banker in Texas Chases Distressed Assets - WSJ
- Beal Becomes Billionaire with FDIC Assets as He Tops Poker Pros - Bloomberg
~Jingle Male
Disclaimer: Not long any of those bonds nor am I affiliated with Andy Beal.
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