Posted by JTB on August 29, 2005 at 12:42:31:
John – thanks for your thoughtful response, it helps a lot. I was wondering if you had any insight on the relative safety (or lack therof) of properly securitized boat/marine notes. I was thinking that given the fact of the boats possibility of literally sinking, damage in storms, etc. that any marine notes would reasonably demand a deeper discount when purchasing to offset the greater risk even before taking into account the credit profile of the note payor. Anybody with experience here have any thoughts on this?