Keep an eye on Ambac , in particular their debentures that trade under the ticker symbol AKT.
AKT is currently trading at about 6 bucks, and if they file for bk, it will likely dive into the sub-dollar range which would be a good time to buy them up as they have a $25 face, and if you can get them for a dollar or under, that would be like getting them at 4 cents on the dollar. If they indeed file for bk, even a recovery of 30 cents on the dollar would put each debenture at $7.50 (which would be a great return if they do file and AKT tanks), and if they don't file for bk, then AKT is a great buy in the 5-6 range in which it is currently trading at. If they can post decent numbers and don't file , imo AKT will go from 6 to $20 in no time.
Numbers don't lie, people do.
