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URL:  https://boards.fool.com/sears-29735295.aspx

Subject:  Sears Date:  12/20/2011  8:44 AM
Author:  hockeypop Number:  8667 of 25515

You opened the door to bond discussions. Since I read the following thread on "Falling Knives" I've been intrigued by the Sears (SHLD) bonds.
http://boards.fool.com/shld-29725251.aspx?sort=whole

I don't see any compelling reason to buy the stock even though it is 63% of BV
http://caps.fool.com/Ticker/SHLD/Stats.aspx?source=icasittab...
The chart: http://quote.morningstar.com/stock/chart.aspx?t=SHLD&reg...

But the bonds at 11.5% to 12.5% Yield to Maturity look very compelling. Particularly the 2017 seems to have a high risk/reward factor.
http://quicktake.morningstar.com/StockNet/bonds.aspx?Symbol=...

The YTM has gone down in the last week. With a rating of B+ but a debt to asset ratio of 17%,being first in line if anything disasterous happens seems to be reasonable. That's a nice return for five years.

It would be nice to see how they do during the Christmas season. Your thoughts?

Hockeypop
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