Sadly, I believe that's the case and we're not happywith the best way that we performed, and definitely not satisfied with the result of it.But mainly because it relates to home finance loan current market, regretably that's what took place inthese other markets.
Furthermore, we continue to think there would beopportunities Later on to invest in and service distressed mortgage portfolios.
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The valuation of our mortgage loan positions displays acombination of observable market place knowledge, the decline from the ABX indexes and ourexpectations of housing prices, the falls and cumulative losses.
Is (inaudible) defense anything probably historically beenmore dependent on and kind of viewing how factors had been heading, you reducedexposure to, or could it be generally been some anything you don't have lots ofdependence on?
We be expecting the transaction to close in the 1st 50 % of2008, we're self-confident that the combination of our operations in Asia withCITIC Securities will enormously reward our international customer foundation and generatesignificant alternatives for income advancement inside the decades ahead.
Nicely, I believe you are literally planning to see Web leverageprobably uptick a little bit, but that is primarily a mixture difficulties. So after we lookat our gross leverage, any time you look at whole balance sheet footings, we willprobably be mostly unchanged compared to the August quarter.
Very well, a lot of the drop inside the fairness revenues came fromthe decline in structured fairness revenues. more info Now, we had a file quarter in thethird quarter, fourth quarter. Buyer volumes weren't bad, even so the marketwas really risky, and we experienced reduced functionality from our SCP region as aresult.
A few firms have performed it moderately effectively, mosthaven't. Just by taking a look at the outcomes, we've Plainly been Completely wrong inside the waythat we placement the textbooks though the system with the year.
Hi, thanks. I assume Sam, could you remark a tiny bit on thecontour of consumer activity levels throughout the quarter, significantly comparedsort of November to September and October? And perhaps give us an early browse onwhat you are seeing in December below?
Over the quarter, we also announced an agreement in principleto build in depth strategic alliance with CITIC Securities. Thisalliance will include the establishment of the joint venture in Hong Kongtogether Along with the cooperation arrangement to assist CITIC in the event oftheir institutional funds markets activities in China.
So if you have a look at the final results for that fullyear, We've lots of parts of the business that had record decades.
So I believe is fairly well contained and driving uswhatever the exposure was. As it pertains to other product strains, Now we have verylittle wrap to CDO credit rating publicity, almost none.
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