For most people illiquidity is a finanrial nightmare. For Barry Silbert it's a dream come true. The more desperate people are to unload stuck assets, the more money he makes. Holding shares of a private company? SecondMarket, Silbert's New York-based firm, will make a market in them. Left with auction-rate securities because the market has broken down since February 2008? Sell them through SecondMarket. Restricted shares in public firms, partnership interests in hedge funds, bankruptcy claims or venture capital funds - SecondMarket will provide valuation analysis and other relevant data to sellers and potential buyers alike and serve as clearinghouse and transfer agent. The firm currently quotes bankruptcy claims on Lehman Brothers Holdings at less than 10 cents on the dollar.
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