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posted: Mar. 6, 2012 @ 8:37p

posted: Mar. 6, 2012 @ 8:37p
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http://www.investinginbondseurope.org/Pages/Console.aspx?thisId=...

Then find a broker that will allow you to buy sovereign bonds. Interactive Brokers may allow you to do that, but don't take... (more)

ajh5408 (Mar. 08, 2012 @ 4:05p) |

I might buy a nominal amount just to make the office deadpool more interesting. I drew the first two weeks of April, so ... (more)

svr411 (Mar. 08, 2012 @ 4:14p) |

Some people think buying NBG is a good proxy for Greek bonds, but I don't really know.

gremln007 (Mar. 08, 2012 @ 6:41p) |

 

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posted: Mar. 6, 2012 @ 8:51p

Can I buy a $10 bond? I'd gamble $10 to get $1000 lol.

If I lost it, I'd have a story to tell about how Greece screwed me.
posted: Mar. 6, 2012 @ 9:11p

1000% is only 10x, so $10 would only get you $100
posted: Mar. 6, 2012 @ 9:14p

Does this mean I can buy a $100 1 year bond for $10? The haircut's going to be about 66%(actually the rumored number is 53.4% but this keeps the math easier), so if I spend $30 to get bonds with a face value of $300, they'll be redeemed for $100 of new bonds. That's still a 333% yield, so unless they get kicked out of the euro, redefault, or the Euro collapses against the dollar, I'm golden, right? I'm not joking, just trying to understand why the market's decided that this is the proper risk-adjusted return.

ETA: Any of the bad things I mention also have to happen within the year before bond becomes due in order to affect me. Though now that I think about it, where's the money to pay back this bond going to come from next year?
posted: Mar. 6, 2012 @ 9:17p

If they're selling a one year note at 1000%, they must expect to roll that debt over next year, the only way you're going to support such a note for 2 years is to seriously devalue the currency. or just grab the money and collapse the currency as you had already planned to do.
posted: Mar. 6, 2012 @ 9:23p

Or they go for 'restructure #3' where those bonds become Zero.
posted: Mar. 6, 2012 @ 10:27p

LordKronos said:   1000% is only 10x, so $10 would only get you $100

D'oh.
posted: Mar. 6, 2012 @ 10:34p

Hey guys, leave Greek bonds alone... They're the next FoMoCo!
posted: Mar. 6, 2012 @ 10:40p

didn't they just cut a deal with the creditors to have a 50% haircut? If you put up $10, you will most likely get back only $5 several years later.
posted: Mar. 6, 2012 @ 10:44p

TheDealMaker said:   didn't they just cut a deal with the creditors to have a 50% haircut? If you put up $10, you will most likely get back only $5 several years later.

It hasn't happened yet. The talk is that this haircut and Greek debt swap will only happen if 75%ish or higher now of PSI participates. I know some large banks like UniCredit and SocGen recently got added in, but the market recently became risk adverse and took a downfall as people aren't sure if this deal will happen now. With not enough investors participating, this could trigger a collective action clause which will trigger CDS payouts to holders.
posted: Mar. 6, 2012 @ 10:50p

But is it safe? I only want safe, high-yield investments.
posted: Mar. 7, 2012 @ 12:42a

10x or nothing. I usually bet on Black in Las Vegas and get served drinks by the girls. Do I get any drinks here?
posted: Mar. 7, 2012 @ 6:39a

If the past record of the total incompetence of Greece holds true, you not only would lose your "investment", you would receive a bill from the Greek government for additional money owed. Remember, the corrupt government and society of Greece have to be funded some way.
posted: Mar. 7, 2012 @ 6:48a

With prices this low, you can't afford not to buy Greek bonds.
posted: Mar. 7, 2012 @ 7:06a

It's 1,114% now:
http://www.zerohedge.com/news/overnight-sentiment-improves-modes...
posted: Mar. 7, 2012 @ 7:47a

soundtechie said:   If they're selling a one year note at 1000%, they must expect to roll that debt over next year, the only way you're going to support such a note for 2 years is to seriously devalue the currency.

I doubt the European Central Bank would agree to that!
posted: Mar. 7, 2012 @ 8:05a

Bid ask kills the deal. The bid side can be as cheap as it goes but it is useless if the offer side is more expensive..
posted: Mar. 7, 2012 @ 8:05a

NorthStar2020 said:   10x or nothing. I usually bet on Black in Las Vegas and get served drinks by the girls. Do I get any drinks here?

Black is only 100% return. Need to bet on top three numbers. If I had the ability, I'd put $100 down on Greece. This would last a lot longer than a spin of a roulette wheel.
posted: Mar. 7, 2012 @ 9:01a

NorthStar2020 said:   I usually bet on Black in Las Vegas and get served drinks by the girls. Do I get any drinks here?Only ouzo
posted: Mar. 7, 2012 @ 9:13a

Thanks I am in for $10. (1,114% now )
posted: Mar. 7, 2012 @ 9:14a

no HDMI ....pass
posted: Mar. 7, 2012 @ 9:32a

ducky51 said:   no HDMI ....passHardy har har, this is FWF not Hot Deals. The running joke here is H&B.
posted: Mar. 7, 2012 @ 9:38a

what is the CUSIP . I want to buy it .

BTW the 1000% yield is useless as most investment (70%) made at this point will be lost in the bond swap process . It's the market pricing the bond based on new bond value .
posted: Mar. 7, 2012 @ 10:17a

psychoslowmatic said:   Does this mean I can buy a $100 1 year bond for $10?... That's still a 333% yield, so

Interesting assessment & thread - but jokes apart, how would a person go about buying them bonds? I have a TD Ameritrade account, do I call them up & ask them for a $1,000 bond + 1 side order of Baklava? Or are there any ETFs or MF that I would have to invest in?
posted: Mar. 7, 2012 @ 10:28a

1yr? Please. They won't last till April...
posted: Mar. 7, 2012 @ 10:32a

Throw in some FatWallet Cash Back and I am in on the deal.
posted: Mar. 7, 2012 @ 11:33a

They'd probably default on that, too.
posted: Mar. 7, 2012 @ 1:06p

Put jokes aside, what is the commission? Is it trade-able? Are there option calls/puts on this?
posted: Mar. 7, 2012 @ 1:31p

There is no way the Greeks will be able to control their economy and meet the terms of the bailout by the EEC and the IMF.

Take a look at this: http://www.forwardedfunnies.com/smoking_pic_004786.html
posted: Mar. 7, 2012 @ 6:12p

manuvns said:   what is the CUSIP . I want to buy it .

BTW the 1000% yield is useless as most investment (70%) made at this point will be lost in the bond swap process . It's the market pricing the bond based on new bond value .

yeah jokes aside, what's the best way for a retail investor to buy this? I want to own $100 for kicks
posted: Mar. 7, 2012 @ 6:45p

yeah i will take some of that.......NOT
posted: Mar. 7, 2012 @ 7:36p

You are better off taking your $100 and short the EUR/USD. You'll probably won't get a 1000% return but you should get about at least 100% return if Greece defaults.
posted: Mar. 7, 2012 @ 7:48p

I'm in for $400,000
posted: Mar. 7, 2012 @ 11:02p

i'd rather buy more Iraqi Dinar
posted: Mar. 7, 2012 @ 11:36p

It sounds like a good opportunity for that FWF guy that leveraged AOR funds and put them into the REITs raking in huge monthly dividends until the market crashed. Anyone want to try this?
posted: Mar. 8, 2012 @ 1:10a

Tripple c rated corporate bonds are way safer -- granted from the above converstions I doubt your private client group clients with UBS like myself -- but I yield 17% on average and with more REITS in that focus and another 4 years for Obama I'm gonna win regardless
posted: Mar. 8, 2012 @ 10:14a

donotdrinkPBR said:   The running joke here is H&B.

Which, for this thread, would be H that offer greek services, amirite?
posted: Mar. 8, 2012 @ 2:42p

How could I buy Greek bonds?
posted: Mar. 8, 2012 @ 4:05p

gate13 said:   How could I buy Greek bonds?http://www.investinginbondseurope.org/Pages/Console.aspx?thisId=...

Then find a broker that will allow you to buy sovereign bonds. Interactive Brokers may allow you to do that, but don't take my word for it...
Skipping 2 Messages...
posted: Mar. 8, 2012 @ 6:41p

gate13 said:   How could I buy Greek bonds?

Some people think buying NBG is a good proxy for Greek bonds, but I don't really know.


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