junkbonds.com at pool

[nicholas]

junkbonds.com now on auction at pool. Close date is 2004-03-03 16:28:00, current bid $1,750.

Way too much now (and still going) for my taste.

If anyone wants in on it and haven't previously backordered it, lemme know.

 

[Jeffrey]

what's so significant withthat name? Or what does it mean?

 

[armstrong]

Originally posted by Jeffrey
what's so significant withthat name? Or what does it mean?

It was a hot topic during the 90's, when leveraged buyouts were all the rage. I think $XXXX is too much for what is now a relatively passe subject.

 

[nicholas]

Er, jeffrey it's a term for financial instruments. Dictionary.com defines this as "A corporate bond having a high yield and high risk" ... or to put it simply, people in the finance world and those in the stock market and related industries will value this word very much, much like people in the hosting world will value generic names like "webservers.com" and such.

 

[armstrong]

A junk bond is simply any bond with high risk, which means that you can buy it at a severely discounted rate, and if the issuing company does not default then you can get a high return.

I didn't mean to imply that they are no longer around. They were more glamorous and numerous in the 90s, is all I'm saying. Today few respectable investors would want to have anything to do with junk.

 

[nicholas]

indeed, after Michael Milken and the rest of the gang went to jail for abusing these instruments, it quickly got out of fashion.. although a lot of companies owe their growth to junk bonds, simply because people used these to "bet" on high-risk ventures. These companies include the likes of CNN and many telecoms companies.

 

[Bill1]

i think this name is worth a lot and the bid will definately go up

 

[Anthony]

People are definitely buying and selling junkbonds all the time, so this name is worth something to the Wall Street set.

 

[nicholas]

yep, currently $3,010 with 21 bids.. and 8 hours left.. notwithstanding snipers and last-minute snappers, this is going way higher than expected.

 

[Anthony]

Originally posted by nicholas
yep, currently $3,010 with 21 bids.. and 8 hours left.. notwithstanding snipers and last-minute snappers, this is going way higher than expected.

You can buy a lot of junkbonds with that money! :lol: