1% makes you a real big shot on this MSB :-)
Heck, you're almost an insider--what's your view of VNR as a company, going forward, and specifically what's in store for the bonds????
VASCULAR--Here is how that worked--PR General fund, under Padilla clown orders, essentially made no debt service payments at all. The weaker credits that actually paid, were because there were still funds available with the trustee, or debt service "reserves", that the Padilla clown couldn't claw back.
Yeah, if the board surprises people, if could be less, or a lot less than that. I'm pretty sure MBI has a good sized chunk of HTA Bonds insured--but AMBAC is by far the worst of the big three, with a lot of the weakest credits, insured.
CMON--I own a modest amount of the Sprint 8.75s31, that I've had for several years--added a few @ about 85 before the big HiYield February 10 Panic. Around the panic time, I noticed that the 8.75s were down in the 60s--wish I had grabbed a few!!
Best I managed to snag--some 9.375%s2020 EP Energy @ 21 cents, now 71 cents. Bought some at 36 cents, now adding some at 71 cents. EP Energy looks a cut above the normal garbage we diddle in :-)
Oh, Puerto Rico is gonna be saved alright--Congress just allowed Puerto Rico to steal 30B of bondholder and monoline money. You can get really well on 30B :-)
Ryan cut a deal with Lew, Weiss, Pelosi, and Obama--his two Republican picks will be demo bond killers. Ryan is really a democrat!! :-(
CUBESTER & MOPSU--Pretty clear most of managed to grab at least a few of the 3/4 baggers during the great hi-yield panic February 2016--but all of us have a poopload of regret for the literally 100s of great buys that got totally away--the few we managed to snag are nice, but if we knew that within weeks, there would be an astounding/lightening quick recovery, we woulda bet the ranch on grabbing as many bargains as possible.
Yeah, for the safer side [ha ha ha] of my portfolio, I continue to add Transocean & Noble Bonds, when I can get them at about 13% [RIG] or 11+% [NE] yield to maturity; also continuing to add EP Energy [9.375 Coupon] in the very low 70s--started buying these at ~35 cents.
And as a total wild card--buying a tiny amount, from time to time, of Armstrong Energy [11.75% Coupon], in the low 40s
Both of you seem really well informed & savvy, and I had few bucks sitting around, so I threw the dice and nibbled on some WTI--paid 25.9 this morning. I've got EROC, but I can't make a trade with that--when there is buying pressure day after day--the buy side of VNR has been relentless for weeks now--a month ago, who would ever thought we'd see VNR/EROC in the mid thirties??!!--well the VNR advance will be fun, as long as it lasts :-)
Every now and then, some of this energy garbage really blooms--earlier this year I bought a modest amount of Cliff's Natural Resources, at 25 cents--sold half of it at 55 cents, and now the dang thing is in the 70s--go figure!!!
No--Ryan crammed Democratic demands on the meek/gutless GOP--what finally got passed was a totally Demo Bill--and the final bill is very hostile to bondholders--for a start, Ryan agreed to give Obama his choice of board members, who will all want to wipe out the bondholders--not good!! Bondholders and the Monolines are all screwed.
The Padilla clown fricked everybody in the end--got the Obama Administration to take away Bondholder's right to go to court, and then defaulted on "everything", except maybe PREPA
AGO, AMBAC, and MBI all writing really big checks today
CUBESTER--Thanks for the info--you are our "distressed bonds go-to guy"! :-)
In the shadow of oil, I see NG was up 20 cents this morning, to about 2.80--that's way better than the 1.80 it was, a month or two ago!!!!
If it can get to and stabilize at around 3--that won't be all bad for companies struggling in the energy patch :-)
KEN--It's pretty clear that you are the "optimistic" one, and OWNER is more skeptical, of our eventual chances. No big deal, optimism or pessimism is just a personality choice :-)
But my question to OWNER is--some institutions are willing to buy big chunks at 11 cents--they're clearly willing to gamble that we are going to get something significant. They're just "gambling" of course, and I've seen Bazillions of times, the big boys "gamble" and then take huge losses
Let's hope that they are right, this time!!!!
Hey good input on the Zion Bond Store--it is the one public/free website where I can check ask prices--been using it to check ask prices for years, maybe I need to open an account there :-)