
coming across in my 30 years of investing: an erstwhile financial services niche player, now in runoff, called Primus Guaranty , Ltd ( PRSG.PK ). This won’t take long. Primus is in the business—or rather, it was in the business
top 10 positions in the 13F portfolio of Second Curve as of September 30, 2011. Company Name Ticker Value Activity PRIMUS GUARANTY LTD PRS 27791 -20% NEWSTAR FINANCIAL INC NEWS 19630 -9% BANNER CORP BANR 19622 -5% CITIZENS REPUBLIC BANCORP
portfolio knowing these things will eventually happen . 20 . What's the most interesting company we haven't heard of ? Primus Guaranty ( PRS ) . They sell CDS on corporate single names and tranches . Basically , 95 % of their revenue is just receiving