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Author: jah609 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35367  
Subject: Re: GM debt Date: 4/3/2006 12:18 PM
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""Are you pleased that the yield(for other people-yours is already set) went up after you bought them?

That's the part that is confusing me. I understand that you got a bargain, and you expect them to pay off. Unless you are buying more, a higher yield just means the market thinks the risk of default went up. I don't see that it benefits you.

Vickifool ""

You're right. The increase in yield did not benefit me; in fact, it was a bit scary.

What pleased me was the jump in prices in the face of negative news.

I have never been very good at buying at the bottom so the decline in the preferreds was not a new experience for me.

The market's response to this morning's news about the partial sale of GMAC is dissapointing, but I remain comfotable with my positions and still expect a large payday. In the meantime, I have a nice income stream while I wait for that day.



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