GREY:ZARFF - Post by User
Comment by
rad10on Mar 26, 2019 11:19am
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Post# 29536636
RE:ask pablo...
RE:ask pablo...Why so fixated on others?
Fact - bought Twin Butte debs between 14 and 25 cents on the dollar.
Fact - total recovery was high 70s - it is a matter of public record............................
The attempt by a far eastern private equity company to stiff the debenture holders out of CCAA was never going to fly. Bennett and Jones came through for us and the rest is history.
It was similar to the recent hydro one deal that failed with the IR's trading down into the low 20s. You have to download the prospectus for the debenture or installment receipt on Sedar and actually bother to read it. It's tedious and boring work - but it can be lucrative.
Happy to admit - down a bunch on a shameful forced debenture conversion - 50% or so. Debentures were bought around high 70s accumulated over several months a while back. Cost basis is around 7.5 - 8 cents...............
Don't let any of the facts get in the way of a great rant............................... enjoy!