No. of Recommendations: 1
Famous last words: what can go wrong? I mean, assuming one believes that GM will not default, isn't this a pretty good deal?
Sure - BUT

The price and yield you see reflect a strong sentiment in the market that GM MAY VERY WELL DEFAULT.

To realize that yield to maturity, you have to hold it for the full period - to 2033. I'll be 80 that year - so maybe even money I'd live to collect. But I'd give even better odds that I'll outlive GM, as we know it. And I can't believe that's even something I can think.

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