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Friday, January 02, 2009

 

gmac bonds (home run)

gmac bonds would have been a home run.. I was reading where the bankruptcy value was around 30 to 40 cents on the dollar and they were trading at around 15 cents on the dollar.. guess what they trade at 50 cents on the dollar.. I bought a very small amount of bank of america's new division.. merril lynch.. trades at a little bit over 50 cents on the dollar.. $15-$16 for a $25 unit simple interest of around 10%... ytm (yield to maturity)... you know you are getting the other $10 over the life of the unit..

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