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We will have to close this board soon. However, there is still money to be made, the convertible bonds will hold some value after the bankruptcy. Further, this is not information you can just pull off of Yahoo. You have to get the 10-k and 10-q off of the EDGAR data base and go over them with a fine toothed comb. If we work together we can make money. Even if we don't make money on Calpine we can learn to make money off of other bankrupt companies. I have a 4 bagger in Mirant and am up 50% in ABB and I pulled down 14 percent on my El Paso for 2 years until it converted. (Disclosure: I didn't do due diligence on any I just followed my brokers recommendation. If I had; I would have invested $10,000 instead of $1000 in Mirant)

My last post about the value of Calpine unsecured debt had a loose calculation that it was worth about .75 on the dollar. After the bankruptcy starts I will pressure my broker on the availability of the bonds. However unless we start a new board, we will not be able to keep communicating on Calpine, or what is left of the wreckage.


Qazulight the Vulture
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