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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (23511)3/7/2006 4:21:50 AM
From: Stewart Whitman  Read Replies (1) of 78958
 
Is this a "Value" play or a "Value" trap?

I'd bet that it is most likely a way of throwing away your money. "Value play" implies you make money and "Value trap" implies that your money is somewhat safe but does not grow - this is neither. The equity is so far down on the food chain on Dana - with Pensions/Unions and the debt - that there will likely be no recovery.

Take that from someone who's followed lots of companies thru bankruptcy. Heck, take it from someone who's lost money on companies that are close to exiting bankruptcy and have a published restructuring plan that says equity holders will get new stock and than go into liquidation with no recovery.

If you do go into Dana, you might look at their bonds. They're trading at about 70 cents on the dollar. Or wait 'til they exit bankruptcy and then buy the new stock.
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