It's a lottery ticket. If I lose what I have invested, it won't affect my life style. On the other hand . . . .
Somebody, not yours truly, is accumulating the bonds. I already have a position and am not buying more (not many anyway, see below).
A few months ago I could buy all I wanted at 0.5. Two days ago (Monday, 3/10) I was quoted 1.435 on 400 bonds (I didn't buy). The problem is that every afternoon somebody dumps a few bonds at .35 or whatever, seemingly wanting to keep the overnight price quote low. So the bonds are a lousy trading vehicle and, if you own 'em, it only makes sense to wait for the final outcome.
And that's all about the results of the Moratorium lawsuit now. Do you think BP will possibly settle for, say, $500 million, or chance a jury verdict for much more? That is the question.
I'd love to hear from anybody with constructive comments, even if they disagree. |
