Thread: Explain "buying debt"
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Old 05-21-2007, 09:27 PM
prohornblower prohornblower is offline
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Default Re: Explain \"buying debt\"
Andy Beal (the banker) made a chunk of his money buying debt. I forget from whom. IIRC, he bought it for like 10-20 cents on the dollar. 40 does seem really high, as another poster stated.
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