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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: carranza2 who wrote (43325)10/12/2005 11:58:09 AM
From: Wyätt Gwyön  Read Replies (1) of 110194
 
i have never heard of anybody buying equity with the hope of bankrupting the company. if you think a company is going bankrupt, equity holdings do the worst in a workout. you might look at discounted senior debentures. this is the way Buffett and Southeastern Capital played Level 3. they left the equity alone and bought the bonds at 35% YTM.
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