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EI - I own none of this but

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mrholty   Tuesday, 06/13/17 06:21:45 PM
Re: Enterprising Investor post# 288
Post # of 338 
EI - I own none of this but I've started to dig around again.

Based on what I see the bond prices are valued at a small discount to the current payout level. $23-24 vs $18 (last price posted on here)

I have a few questions:
1. where were you able to trade these? Fidelity will let me trade other bonds but not this one.
2. In looking at this do you have any idea of the JPM case. It appears from a perusal of several documents that discovery is still ongoing and nothing toward a settlement of any type vs the other smaller cases. I wonder if the size of it is the problem. I'm not skilled enough to know if these are different type of securities, tranches etc.

Any thoughts on this from your side re timeline, estimated recovery?
(I've been using 10% as my base estimate, with 0% as a bear case, and 20% as my bull case which may be too conservative) which actually fills the Senior Notes.

3. In the MOR, such as 2529, there is $3.3B in pre-petition liabilities (see note 3). Won't they simply take anything earned from the other cases & JPM and distribute them to these guys first leaving nothing left to bondholders or am I misinterpreting this line.



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