These are Junk Bonds and real Junk, the junkier the better. but the price will soon drop like a lead balloon as soon as the rates rise, maybe even before. If you see it falling watch out. word is out.
Why wasn't a proxy sent out to all shareholders?
I don't care. They could have gotten a much better offer. The whole reason behind common shares is voting rights.
While the sell-off on Friday may have felt very sudden, Jim Cramer has seen the market going down for a very long time. With the average stock in the S&P down 20 percent from its highs last week, Cramer thinks investors should just get used to the notion that good news just won't matter right now.
"I want to talk about the psyche of a bear market so you can understand why nothing is working and the averages can't put together enough of a winning streak to make it so you can get anything but a trading bounce," the "Mad Money" host said.