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To: TobagoJack who wrote (205)	5/31/1999 4:23:00 AM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 6020

I too like certain special situations involving junk bonds. Years ago I bought some Trump 11.25% Bonds that were selling at a big discount and yielding around 17%. The collateral behind the Bonds was the Taj Mahal Casino so even if Donald Trump defaulted, we bondholders would wind up owning the Taj Mahal Casino/Hotel. I paid $660/bond and collected the effective 18% interest until the bonds were redeemed in about a year or two at full face value. So besides the 18%/year, there was a 50% capital gain in a year or two. The worst case was I might've wound up owning a piece of the Taj Mahal. Not too bad a risk. Trump did manage to screw me on an earlier situation involving his takeover of Resorts International (the original owners of the Taj Mahal) but that's another story. I will say that I do see a little of Trump in Son and that worries me a little <G>.