Well if Mark is correct, it’s a slam dunk to buy thousands of puts and we’ll all be as rich as Soros and Buffet.
They sold off-spun off Cadillac. I have no reason why. But it was an entire division—poof, gone.
The regime and GM screwed every bondholder, illegally, and handed the company over to union control, at least as far as I understand what happened.
So, given the perfidy that apparently fueled the GM is alive and bin Laden is dead continues.
I think it is like bying a “Rolex” watch from a guy on the street corner for 50 bucks.
Stupid is as stupid does my mama always said.