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.
LordKronos
Senior Member - 1K
posted: Mar. 6, 2012 @ 9:11p
1000% is only 10x, so $10 would only get you $100
psychoslowmatic
Dismembered Member
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?
soundtechie
Pickle King
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.
forbin4040
Senior Member - 6K
posted: Mar. 6, 2012 @ 9:23p
Or they go for 'restructure #3' where those bonds become Zero.
LordKronos said: 1000% is only 10x, so $10 would only get you $100
D'oh.
ajh5408
Geeky member
posted: Mar. 6, 2012 @ 10:34p
Hey guys, leave Greek bonds alone... They're the next FoMoCo!
TheDealMaker
Senior Member - 2K
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.
SFcapitalist
Member
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.
qcumber98
Pickled
posted: Mar. 6, 2012 @ 10:50p
But is it safe? I only want safe, high-yield investments.
NorthStar2020
Serene Member
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?
mississippi
Member
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.
BarryAndLevon
Ancient Member
posted: Mar. 7, 2012 @ 6:48a
With prices this low, you can't afford not to buy Greek bonds.
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!
nycll
Geeky member
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..
elektronic
Senior Member - 1K
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.
xoneinax
Senior Member - 6K
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
whudgens1
Member
posted: Mar. 7, 2012 @ 9:13a
Thanks I am in for $10. (1,114% now )
ducky51
Member
posted: Mar. 7, 2012 @ 9:14a
no HDMI ....pass
donotdrinkPBR
Happy Member
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.
manuvns
Senior Member - 2K
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 .
FaxMac
Member
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?
Put jokes aside, what is the commission? Is it trade-able? Are there option calls/puts on this?
Marvinomatic
Member
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
vickh
Senior Member - 5K
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
daml
Senior Member
posted: Mar. 7, 2012 @ 6:45p
yeah i will take some of that.......NOT
shallot
Senior Member
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.
Rincon
Member
posted: Mar. 7, 2012 @ 7:48p
I'm in for $400,000
BananaQ
Member
posted: Mar. 7, 2012 @ 11:02p
i'd rather buy more Iraqi Dinar
Dus10
Senior Member - 1K
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?
fatassroadking
Member
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
KLineD
Tired Member
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?
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
Members of our community may attach files to a post in accordance with the User Agreement. FatWallet is not responsible for the content, accuracy, completeness or validity of any information contained in any attached file. Files have *not* been scanned for viruses. Be especially wary of Excel files which may contain malicious content.
One-time set up
Avoid the hassle of entering your information every time you buy.
•
Instant Cash Back tracking
Since we complete the purchase, we can credit your Cash Back immediately.
•
Buy with just two clicks
One click begins checkout and another confirms your purchase.
Once set up, making a purchase with FW checkout is a breeze. FatWallet Checkout confirms the after-tax
price plus shipping and, after you confirm, completes your purchase for you.
Shopping
Earn Cash Back while you shop - just 3 simple steps.
1. Sign Up so we know who to pay! (It's FREE.)
2. Shop through FatWallet for deals from your favorite stores. Your online purchases earn Cash Back that builds in your FatWallet account.
3. Get Paid by requesting a payment via check or PayPal.
FatWallet coupons help you save more when shopping online. Use our Coupons Search to browse coupons and offers from thousands of stores, gathered into one convenient location.
Forums
As part of our FatWallet Community, you can share deals with almost a million shoppers in our forums. Forum content is generated by consumers for consumers. Share deals, money-saving tips, and more. It's FREE, fun, and addicting.
Support
Our customer experience team is here around the clock - real people ready to assist.
Click to copy code and go to .
