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Strategies & Market Trends : Value Investing
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To: Area51 who wrote (47336)4/12/2012 10:54:24 AM
From: MCsweet1 Recommendation  Read Replies (2) of 78480
 
GMXR,

Take this with a grain of salt, since I know little about GMXR. However, I do see the convertible bonds due in 2013 are yielding 49% to maturity as of today. This lack of confidence would make me antsy buying the stock or the preferred. I'd especially much rather own the bonds than the preferred, as the preferred likely will not get anything in a bankruptcy.

The stock is harder to tell. The stock has the same downside risk as the preferred, but has more upside if the company survives.

That being said, I will not be taking a position in this one.

MC
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