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Strategies & Market Trends : Value Investing

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From: MCsweet	5/29/2010 9:51:29 AM
	Read Replies (2) of 78717

ATPG, Does anyone have a nice detailed analysis on this? I have to admit lacking time to sort through all the implications and model the cash flows to see whether they make it through ok. I have a small long position. The bonds are CCC+ and trading at 80.25 cents on the dollar with a yield-to-maturity of 18.096%. It implies a large risk of default, but could be a big overreaction. Sometimes these things get sold on panic news without investors really knowing the implications. On the other hand, I hate to bet big on a company that bondholders are saying could be toast. Whoever has a good handle on this situation will make a lot of money. Sometimes I am the person with a good handle, but not in this case. Thanks, MC

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