Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
It is hard to assign a value IMO. I am not clear if the spike in the stock is due to the hope for a big settlement with Goldman, BAC, JPM , etc. or just the equity freed up in the bankruptcy process.
So the new AMBC should have a pristine balance sheet and is probably a buy at this point.
Pop hard until it is cancelled tomorrow ??
Joe,
I bought around the time of the BK filing for about $3.50 apiece.
The CUSIP that I have is 023139603. Does that match yours?
Dave S
How did you sell the AMBAC bonds. I am holding some in an account, but I wasn't sure if they trade.
Deteriorating Economic freedom in the US by international standards.
<http://ca.news.yahoo.com/video/business-15749628/america-s-declining-economic-freedom-30644900.html>
What do you think of the NBG-A preferreds? May be worth a small
bet if the dividends are suspended.
Rest up and get well !
Any idea of the new symbols for AKF and AKT?
What is your sense of AKT versus the bonds in terms of liquidation priority. Are the bond senior unsecured as well?
Watching AMBAC exchange traded debt AKT and AKF. Trying to determine it there is any residual value in a prepackaged BK.
Deleted
Probably a bounce for the next options expiration games in November.
I have the last 8 week low on July 2, based on the DOW.
Yes, that was a real surprise.
It appears that the 13 week low hit on 7/30.
And keep on going down, on balance, until the 40 day bottom?
Jim,
Is July 7 a price high or a Momentum High?
Thanks in Advance,
Dave S
Joe,
I think he means the group in Washington.
Dave S
The Younger US generation just suffered a great setback. They will be taxed to support this giveaway, forced to purchase insurance and saddled with one more huge debt burden that will enslave them for their lives.
Joe,
That occured to me yesterday as well. What is the best way for the GOVT to insure broad participation in the bond offering? Scare everyone out of the equity markets.
Dave S
Any idea what is hitting the CBC preferred?
Joe,
I could not agree more. I noted with astonishment as Greenspan and company kept rates near zero for a protracted period. As a result, individuals and companies took greater risks since the cost of capital was negligble. Personal and business balance sheets became leveraged to the max to "use" the "free money" being spawned by the fed. When the rates were ratcheted up over 5 percent by Bernanke, the house of cards came tumbling down and the financial system imploded.
Dave S
SPPRO and SPPRP might be worth looking at for your list.
Preferreds are moving up:
http://seekingalpha.com/article/182439-preferreds-and-high-yield-bonds-surge
Joe,
Which REIT preferred's do you like beyond RAS?
Dave S
Very good points. I agree with you and will probably lighten up on the sub-10% holdings, even though they are in a 401 k account that doesn't allow covered calls.
What do you see as the catalyst for the fall in financials (commercial real estate)?
PS. Many Thanks for the recommendation on the RAS preferreds. They have been a home run.
Selling Criteria,
What are folks using as selling criteria for preferreds these days? I have several BBB and A rated preferreds whose return has dropped below 8.5 %. Are you selling those?
Dave S
Joe,
You can always sell naked calls or buy puts to develop synthetic short positsions in these securities if you want.
Dave S
WOW!! Nice call and nice trade !
Joe,
Selling just the common or the preferred as well?
Happy New Year,
Dave S
Thanks for that Joe. I sold some but held the rest. Nice dividend payers.
I picked up some ZB-A to participate in the exchange offer that was announced today.
AMBAC Debentures AKT and AKF on a tear today.
Joe,
Thanks for the clarification.
Dave
Some language suggest that the preferreds will be wiped out as well:
<<http://seekingalpha.com/article/170583-cit-group-s-bankruptcy-plan-goodbye-common-and-preferred-stock>>
How do you think the CIT exchange offer values the preferreds?
CIT Debt Swap Struggles:
http://finance.yahoo.com/news/CIT-debt-swap-struggles-rb-62878914.html?x=0&.v=3
FSAD, FSAE and FSAH going crazy today. Not sure why.