I have held it for quite while and sit in amazement at the gain this week. Maybe somebody knows something I don’t.
The perimeter held on Tuesday as not nearly enough of the real players held fast and did not accept the offered exchange. I follow, believing the judge/trustee is American and will uphold the law of contracts. My view is that the world financial system depends on that judgment
Please read this at CNBC regarding the potential value of the bonds to understand the reason the private equity bondholders agreed to the sweetened deal:
http://www.cnbc.com/id/31014489