>>I suggest that the FSA bondholders write to the CEO of AGO to refrain from delisting.<<
I wrote investor relations AGO and the SEC. Maybe a waste of time, maybe not.
The least I could do.
Maybe Joe Biden could speak on our behalf. :)
Well there are two schools of thought on mortgages. I have always considered them good debt and the only debt I carry so long as they are fixed rate and so long as you have the means to pay them off in full if that becomes desireable. With a 12% yield this last purchase will nicely cover my 5/7/8% note even if inflation rages which it probably will.Evidently some folks agree with me as there were a few buyers out there. Anyway my overall cost basis is such that my yield is in excess of 12%.
What you must do is keep enough liquidity to make sure you don't have to dump these in the pink sheets which is kind of like bleeding in front of sharks.RRW
I suggest that the FSA bondholders write to the CEO of AGO to refrain from delisting.
Dominic Frederico, CEO of Assured Guaranty
30 Woodbourne Ave., 5th Fl.
Hamilton, HM 08, Bermuda
Out of curiosity, I added the total number of FSA bonds traded today and it equaled 190,570. This represents 1.12% of 17MM outstanding bonds. Considering it was te first day following the announcement of delisting it it could have been a lot worse.
Tony- my situation is very similar. I began buying these some time ago. I have a paper profit of several thousand dollars even after this. If I were to sell them I could not replace the income with bonds of comparable quality since yields have dropped so much. I am closing in on 68 myself and am retired. In my situation the income is more important than the price of the bonds and it sounds like that is where you are too. Good Luck RRW
Here's my situation: I added up my total cost for FSB, FSE, and FSF then divided it by the number of bonds I have and came up with a weighted average cost of $10.99. At that price my yield on the cost is about 13.7%. I'm staying put even if they drop another 13% tomorrow. At the age of 68 I'll take the interest income. I too am looking at it as an annuity payment.