This article appears courtesy of Global Investor.
James Norris reports.
John Devaney is chief executive of United Capital Markets, an institutional broker dealer specialising in distressed asset backed securities (ABS) and collateralised debt obligations (CDOs). He suffered losses to the point where he had to put up some of his most treasured possessions for sale, including his 142ft yacht ‘Positive Carry’, his $16.25 million house in Aspen and his 16-bedroom waterfront mansion in Florida.
Not everyone is as anxious as Devaney.
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