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  • Ford: Have You Driven a Convertible Preferred Lately? [View article]
    At this point, I can see a scenario where Ford survives but its equity and preferred holders get wiped out in a nationalization. I think this is way too speculative.

    I think the convertibles for Chesapeake and Bank of America offer decent values with good downside protection. In BAC's case, though, I'd wait to see how things shake out with Citi - if they're forced to fire sale assets, BAC will be forced to take heavy writedowns on mark to market accounting. They will then have to raise extra capital.
    Nov 23 21:41 pm |Rating: 0 0
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