Liberty Posted September 26, 2011 Share Posted September 26, 2011 Sounds good, at least we know it happened. Thanks for sharing what they told you! Link to comment Share on other sites More sharing options...
Grenville Posted September 27, 2011 Share Posted September 27, 2011 The interview is posted: http://www.gurufocus.com/news/146628/gurufocus-interview-with-fairfax-ceo-prem-watsa# Link to comment Share on other sites More sharing options...
BSB Posted October 5, 2011 Share Posted October 5, 2011 As you know, Prem Watsa foresees deflation, based on the malaise that hit Japan two decades ago. Economist Richard Koo ( respected by Watsa) studies this malaise in detail in "The Holy Grail of Macroeconomics". Republicans may want to give it a read. Maybe they don't know what they think they know, about how to address our unemployment problem. Link to comment Share on other sites More sharing options...
T-bone1 Posted October 5, 2011 Share Posted October 5, 2011 A play on the restructuring of these Greek bonds? In a restructuring scenario, how much would Greece still be on the hook for? 50% of the old debt outstanding? Do you get exchanged for some sort of Brady bond, with principal guaranteed by some German zero coupoon? A 1 year 97% yield would imply in a restructuring you only get 3%, i.e. EU let's Greece wipe away all of their debt, and absorb all the pain in the banking system, which seems quite unlikely... If a one year bond yields 100% (yield to maturity), that means that it is trading around 50% (most of the yield to maturity would be from getting paid par in one year). So it implies roughly a 50-60% recovery rather than a 3% recovery. -T-bone Link to comment Share on other sites More sharing options...
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