Buying bonds and shorting stock is a guaranteed winner here. BK is a zero for the stock and makes provides zero cost basis bonds that will be worth something eventually.
Bro, this company can't even pay its debt and the market knows it. That's why the bonds are 50 cents on the dollar. I think the full recovery will be in the 70 cent range with the stock a wipe-out. In that event, I make 40% on the bonds and 100% on the stock short sale. LMFAO. Book it Danno.
It's all over folks. Have a nice weekend. LMFAO
That's how I'll make money on both sides of the trade. LMFAO
I'll make money on both sides. Mark my words. LMFAO
So the bond market is completely wrong in demanding a 30% yield to maturity on the debt? Bond money is much smarter than stock money. They are pricing in a 35% haircut from par. Before the stock is worth a plug nickel, those bondholders will need to get 100% of par plus all interest payments. Good luck with that.
This balance sheet is a mess. 2 yr. bonds are trading at 65 cents on the dollar. If the bond holders take a 35% haircut, what do you think the common shares are worth?
Zip. $0. LMFAO
He owes his shareholders an apology for losing them massive purchasing power. His expired put premiums are never coming back from money heaven. A 50% crash would vindicate his views but not recover the losses.
This fund has crushed shareholders while Tice and Noland are living large. Suckers.
After deducting admin costs, executive salaries, etc, there is no earnings and thus just a wasting asset that never generates cash for shareholders. NPV of $0 is $0. LMFAO