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Housing: The Big Long: Sreeni Prabhu, Co-Manager, Angel Oak Multi-Strategy Income:
FYI: In 2006, Sreeni Prabhu was managing a $25 billion bond portfolio at Washington Mutual in Seattle when lax lending standards and iffy appraisals turned him bearish on the housing market—even as his employer’s mortgage division was churning out loans to high-risk borrowers.
“My directive was to sell nonagency mortgages and buy other assets,” says Prabhu, now 43, who grew up in India and moved to the U.S. in the late 1990s via a tennis scholarship at Georgia College & State University in Milledgeville, Ga. He is now the chief investment officer of Angel Oak Capital in Atlanta, and co-manager of the $6.2 billion Angel Oak Multi-Strategy Income fund (ticker: ANGLX). Regards, Ted http://www.cetusnews.com/business/Housing--The-Big-Long.ByW43etWz.html
