Ambac Financial Group Inc (AMBC)

[Wamook]

I wouldn't call JGW a parking space!! Big Spread Low Volume

If you try and "Un Park" your money from it it's very likely the bid will run away from a 100 share sell. There are a lot of days where no shares trade at all!!

I'm thinking that this was a security marketed to fixed income people and funds, and when AMBAC ran on tough going for a while enough people got nervouse to dump enough shares to dump the price.

I also blame this record for the low price: http://www.quantumonline.com/search.cfm
The security is associated with WACHOVIA somehow.

So just picture Granny Worry Wort and her fear of losing her pension money. Or all the funds that might be selling due to rules about owning stocks that sell below five bucks.

I found the prospectus before and skimmed it. I'll go find the link to it and post it. I bought a few hundred shares at $3 figuring the company had to make five payments over 2 and a half years to get me all the money back and might be worth quite a bit more by then. So this is LONG-LONG. I would not recommend going heavy here.