Friday, March 2, 2012

Snow day in Decorah


It's snowing in Decorah. I'll be making some money, shoveling snow. Here are a couple of pictures of the snow on Water Street.

No sooner did I paste the pictures but it stopped snowing. I think I'll spread a little salt on the sidewalk and forget about it.
Delphi is showing signs of life. Yesterday, after the close, they announced that they were going to trade new bonds for their old bonds. This only affected their senior bonds, so my bonds weren't affected yet. This should be a good thing since they'll be paying coupon on the new bonds. I think it'll drive all their bond prices up.
Anyway I'm in full "dig up some money" mode. If I can come up with $1000 I could buy up all the Delphi bonds being offered on E-trade. I might drive the prices up by myself. $1000 bonds are selling for $20. I don't see how I can lose. My sister told me to borrow from my brother. I think I'll give it a shot. I still have a credit card that has $400 on it yet. So I'm 40% there.
Last night Cramer said to buy banks. He's been a bear on banks for at least 3 years, now. He says that they are a buy, now.
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