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Strategies & Market Trends : 50% Gains Investing

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To: Dale Baker who wrote (33061)3/27/2003 6:59:57 PM
From: Dale BakerRead Replies (1) of 118717
 
Bond update - the TWTC bonds are hitting new highs at 77 today; CPN 2006 bonds also strong lately with a close around 64. The ALGX bonds are still stuck at 21 though up from a dip to high teens. Refi news there is due by late April.

Interesting that HRC has some bonds that trade on par with the bank debt. Anyone think they are worth the risk at 46?

"Still, some traders said there is value in HealthSouth's senior notes, which rank on a par with its bank debt in recovery value, according to Steve Persky, managing partner of Los Angeles hedge fund Dalton Investments. HealthSouth's 7.625 percent senior notes due 2012 rose 2 cents on the dollar to 46.

"This is a real company treating sick people with real assets," said Persky, who said the bonds could be worth 80 when the company resolves criminal investigations into its financial reporting."
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