Replies to post #2 on 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.

1

[Enterprising Investor]

Last trade per FINRA TRACE 71.00 (4/29/21)

I paid $2,905.74 for 216 certificates representing $5,400 in principal amount or 53.81 cents on the dollar. I received $6,417 in principal amount of bonds worth $4,556.07, up $1,650.33 or 56.8 percent.