Mr Cooper Group Inc (COOP)

[porkchopranch]

Good memory Lodas. I remember trading the junk bonds of Calpine. It was one of my biggest home runs ever.
They had some Jr bonds, don’t remember the coupons anymore, and they were trading in the mid-upper 20’s.
I started buying them for my biggest account/client. (I was a broker back then) The bonds were dropping and we kept buying them as bad news was coming out. All the way down to 8 cents on the dollar. (Probably about the same time as Falcone’s lawyers were grilling that guy)
That was the bottom.
Then news started getting better and the bonds started rallying back up hard.
When they got up to 80 we started to piece out of them, all the way up to 142 (which was par plus a lot of accrued!) and that price ended up being the top tick.
My client made over $30mm on that trade. And I did quite well to :)