andruomail

Irrational Stupidity

If default's against the CA constitution, is it impossible to do? even if it were, the state congress can probably get together and change that with a supermajority vote. (I'm not convinced this will happen, just reading the fine print.) And bond insurance from Ambac's not very reassuring. Maybe if you can find out they're insured by Berkshire (buffet again), if indeed he would reinsure CA bonds.

Irrational Stupidity

Interesting about the CEG-A -- yielding 11+% today. Some things to pause on: Buffet's company's merger proposal goes up for vote in summer 09, and long-term CEG shareholders aren't too excited about the low price. He did put $1 billion into preferred stock up front that from what I can tell is senior to CEG-A and convertible to senior notes @ 14%. You might end up with the preferred stock but no Buffett. There is however a competing slightly higher offer from the French, so somebody strong might end up with the company at any rate.

Irrational Stupidity

Interesting about the CEG-A -- yielding 11+% today. Some things to pause on: Buffet's company's merger proposal goes up for vote in summer 09, and long-term CEG shareholders aren't too excited about the low price. He did put $1 billion into preferred stock up front that from what I can tell is senior to CEG-A and convertible to senior notes @ 14%. You might end up with the preferred stock but no Buffett. There is however a competing slightly higher offer from the French, so somebody strong might end up with the company at any rate.

3 Bulletproof Investments

Interesting about the CEG-A -- yielding 11% today. Some things to pause on: Buffet's company's merger proposal goes up for vote in summer 09, and long-term CEG shareholders aren't too excited about the low price. He did put $1 billion into preferred stock up front that from what I can tell is senior to CEG-A and convertible to senior notes @ 14%.