Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (11062)	11/25/2001 3:39:27 AM
From: Maurice Winn	Read Replies (2) of 74559

<I had bravely tripled my earlier position in GX 2007 8.75% bonds the day after Columbus Day. My first tranche was purchased at 70 cents on the dollar about three weeks earlier, and the post-Columbus Day second tranche (tripling) was done at 19.5 cents on the dollar. I do not planned to average down again because I remember my Bangkok Bank experience during the practice run of the current script back in 1997-98, namely, there can be always another 70% down to go, mathematically speaking.> Now I'm interested and drooling. 20c on the dollar? I wonder what they are now. I bought a Tonka Truck full of Globalstar at 4.5c on the dollar and I mistype Global Crossing as Globalstar so 5c seems reasonable for Global Crossing. Note to self. Check out Global Crossing bonds. Buy them cheaper than Jay. Then laugh.... check thru sniper scope before laughing.... Mqurice [have no margin having sold plenty of Q! - didn't want to be caught in the tornado/tsunami/crossfire if Jay was right]. Down 6% year to date = worse than Jay [up 8%], but not a disaster.... considering it's supposed to be the year of the financial collapse.

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