muscleman Posted November 15, 2014 Author Share Posted November 15, 2014 I am surprised the interests drawn to the thread is so low. The bond has gone up nearly 100% in 4 months. :) Link to comment Share on other sites More sharing options...
rukawa Posted May 12, 2015 Share Posted May 12, 2015 http://www.bloomberg.com/news/articles/2015-05-04/gundlach-sees-puerto-rico-like-mortgages-in-2008-crisis The pension obligation bonds look pretty attractive. Link to comment Share on other sites More sharing options...
oddballstocks Posted May 12, 2015 Share Posted May 12, 2015 muscleman- not sure if you're still looking for this, but i did not see it: Puerto Rico Commonwealth PUB IMPT-SER A 5.750 Jul-01-2041 CUSIP 74514LYW1 I have to imagine that issue is referenced in articles often because it appears to have much better liquidity. Why not call your broker? I am not long PR bonds because after the expected downgrade to junk, the bond did not sell off as I expected, which means it is bullish. I am long BPOP. :) Did you look at OFG? Any reason you picked BPOP over OFG? Have spent some time on both, curious as to your thoughts. Link to comment Share on other sites More sharing options...
muscleman Posted May 12, 2015 Author Share Posted May 12, 2015 muscleman- not sure if you're still looking for this, but i did not see it: Puerto Rico Commonwealth PUB IMPT-SER A 5.750 Jul-01-2041 CUSIP 74514LYW1 I have to imagine that issue is referenced in articles often because it appears to have much better liquidity. Why not call your broker? I am not long PR bonds because after the expected downgrade to junk, the bond did not sell off as I expected, which means it is bullish. I am long BPOP. :) Did you look at OFG? Any reason you picked BPOP over OFG? Have spent some time on both, curious as to your thoughts. No. I am not aware of OFG. I picked BPOP when it was $24-26. I sold recently around $35, and bought BoC, because I think Bank of Cyprus is more interesting at this stage. Bank of Cyprus currently is trading at 2.5 price/pre-provision earnings. And I expect the bank to at least break even this year. It has over 53% of non-performing assets, so when those are all gone, it should trade at 1.2 times P/E, which means the stock has the potential to go up 800-1000%. There is of course risks. They claimed that loan loss reserve + collateral should cover 113% of NPA, but who knows..... Link to comment Share on other sites More sharing options...
muscleman Posted September 2, 2015 Author Share Posted September 2, 2015 http://www.wsj.com/articles/puerto-ricos-power-authority-reaches-deal-with-bondholders-1441191429 "Puerto Rico’s power authority said Wednesday that it agreed to the terms of a restructuring plan with a group of bondholders, who are slated to receive 85% of the value of their existing bonds in exchange for new securities." If PREPA's bond haircut is only 15%, other bonds like the highway bond should fair better because they still have the ability to pay. Link to comment Share on other sites More sharing options...
muscleman Posted September 9, 2015 Author Share Posted September 9, 2015 http://www.reuters.com/article/2015/09/09/us-usa-puertorico-restructuring-idUSKCN0R91JD20150909 The drama has begun. My thesis is under stress tests. :) Link to comment Share on other sites More sharing options...
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