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Abercrombie & Fitch Co. Message Board

  • msch8864 msch8864 Mar 1, 2013 9:52 AM Flag

    Short retail like there's no tomorrow..

    Amazingly, there is a RALLY in junk bonds. You literally can't make this up. Just about every hedge fund manager on earth call junk bonds the worse investment in America. These "funds" are being sold to customers by "FINANCIAL ADVISORS" These poor **tards are being told to buy, with a 4% commission, what every reasonable investor thinks is a guaranteed 50% future loss.

    To put this in perspective, last year, JCP paid 7% interest on their debt. Since then, rates on junk bonds have fallen almost 150 basis points. THERE'S NO WAY PENNY WILL PAY IT'S DEBTORS.

    This is across the board. Last year, companies spent $144bn drilling and fracking gas and oil wells. The break even price for N dakota oil is $82 a barrel. The average price in 2012 was $76. The break even for gas was $8/1000 cu ft. The price was $3.50. There is an ENORMOUS pile of bad debt on the books.

    Once junk bonds crash retail is finito. This thing is going to make hiroshima look like a 4th of july fireworks display.

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