In mid-2007, she says, she realized that CLOs were going to cause huge problems in the economy.
For more adventurous clients, Corso suggests high-quality tranches of collateralized debt obligations, or CLOs.
As much as I enjoyed the tasting, I couldn't help thinking about the Clos Ste.
Will the troubled Zohar CLOs continue to make interest payments and pay off at maturity?
There are billions of investor dollars at stake--and Tilton's outstanding CLOs have been downgraded.
On the demand side of the ledger, managers expect a similar scenario for CLOs.
One way to understand CLOs is to imagine you are going shopping for mens dress socks.
In 2008, Wine Spectator named the 2005 Clos Apalta its wine of the year.
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For one thing, the pipeline of CLOs is at its highest point since at least early 2008.
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Billions in bondholder money is at stake in her three most recent CLOs Zohar I, II, III.
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But their reputation was tarnished in the credit crunch and demand for new CLOs has dried up.
It adorns the 20 cases of wine they are buying at a 33% growers' discount from Clos LaChance.
But more than half of this equity is comprised of par value loans she transferred from other CLOs.
One third of the grapes used to make Krug champagne are from family-owned vineyards like Clos du Mensil.
What happens if Tilton's funding dries up and she can't issue more CLOs?
As collateral manager of her CLOs, Tilton has used the money raised as if it were her private bank.
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The brands included Clos du Val wines, Kiss My Face skincare products, and other brands appropriate to the demographic sampling.
Now, after moving to Los Gatos, they have their vines maintained by a winery 40 miles away, Clos LaChance .
That is more than twice the output of his segment's closest rival for market share, Allied Domecq's Clos du Bois winery.
We were both holding Graves-designed Dansk glasses, half-filled with the 2006 Clos Pegase Merlot, a wine produced at a Graves-designed winery.
On the demand side of the scales, CLOs again drove the bus.
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That is, until the raw and truly vibrant Bert le Clos moment.
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Mr. Finch, it turned out, had an emotional connection to Clos Ste.
Considering the tens of millions in fees Tilton gets each year from CLOs like Zohar, her potential equity losses are more than covered.
Tilton's empire, built on the backs of issuing successive CLOs, is in trouble partly because her easy access to funding is drying up.
In those early years the group was so close that they gave their wines the same first name Clos Mogador, Clos Erasmus, Clos Finca, etc.
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The idea behind CLOs is that a repackaged pool of bonds is worth more than the individual bonds that make up the pool, i.e.
Tilton has built a formidable fortune using collateralized loan obligations (CLOs) to finance the purchase of distressed middle market loans from bank portfolios.
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It is here that Clos du Mensil, their "jewel vineyard" lies.
Tilton explains that she holds the equity in all of her Zohar CLOs and is at risk of losing capital if her bonds sustain large losses.
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