Merrill Lynch Depositor Inc (PIY)

[Enterprising Investor]

Someone asked me about the squirrel reference.

As expected when a public company files for bankruptcy, securities prices usually drop dramatically. In the case of PIY, the last trade was $6.88 on 5/13/20. I was confident that the Senior Note class would end up being the fulcum security, however, my fear was that I had paid too much.

I should have bought more.

And hindsight is always 20/20.

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