Bids4bonds.com

The Recession that never was?

Patience

Even a stopped clock is correct twice a day.

 

Distressed debt opportunities have been meager. Every body has been able to get cash if needed.

PPA Model Porfolio

Our model portfolio is 60% cash, in a money market fund with a 5% yield. Some ten year government bond etf's. The remainder 40% is invested in about ten stocks that pay fat dividends and could probably appreciate.  There is an election coming up and the Federal Reserve is close to ending raising rates. The market will look good after the current pullback is finished.

Stay invested.

 

 

 

Stephen P. Vlahos

Performance Plus Advisors, Inc. 

Distressed Debt And High Yield Investing-My Favorite Trades

My career on Wall Street began at Drexel Burnham Lambert in the late 70's. After leaving Drexel, I managed bond desks for over the counter NASD firms., trading junk, mortgage bonds, corporates and bankrupt debt. Writing research and market commentaries began in 1995 and now includes research for institutional investors regarding bankruptcies and high yield securities.

Published analytical works include the following notable Buy recommendations: Conseco Inc, Federal Mogul, Ual Corporation, Dura Corp, Tower Automotive, Interstate Bakeries, and Patriot Coal. Notable Hold or Sells: Westpoint Stevens Inc, Visteon and Delphi. I have held NASD series 7, 8, 24,53 and 65 licenses. That is the Who and The What. As to the When, Where and Why.

The opportunity to move from CT/NYC to Fort Walton Beach, FL presented itself and I took it. Being entrepreneurial, I sold my home and stocks and moved to the beach. The ideal place to develop my internet businesses; Bids4bonds.com and Bids4books.com.

The next cycle of rising interest rates and bankruptcies is just beginning and will continue for years. Investors should begin to aggressively invest in bankruptcies and other distressed bond debt. Bank debt will be the best place to be on the capital structure. I have written about banking and finance for decades, not as a journalist but as a member of the capital markets with an audience as sophisticated as it gets.

  

Stephen P. Vlahos

Performance Plus Advisors, Inc.

High Yield and Distressed Debt Investing-Bids4bonds.com

 

Bids4bonds.com is a distressed debt investor Blog for financial professionals and interested parties dealing with high yield, distressed debt securities and public companies in Chapter 11 Bankruptcy. My name is Stephen Vlahos. President-- Performance Plus Advisors, Inc., specialists in distressed debt trading and research.

Stephen P. Vlahos

Performance Plus Advisors, Inc.

Smurfit Stone-Distressed Debt Investing

The following is a list of key elements of the Smurfit Stone Plan of Reorganization which has recently been approved. To obtain a copy of this research or any other company analysis contact Performance Plus Advisors, Inc.--727-441-1305 ext 203.

KEY ELEMENTS OF SMURFIT STONE PLAN OF REORGANIZATION

1) All existing secured debt will be fully paid in cash.

2) Existing unsecured debt and claims including the outstanding unsecured senior notes, will be exchanged for common stock, with holders of less than or equal to $10,000 entitled to receive payments of 100% in cash.

3) All of the existing equity and preferred will receive no distribution.

4) The new Smurfit Stone will assume all of the obligations of the existing defined benefit pension plans as well as collective bargaining agreements made with labor unions.

The price of Smurfit Stone unsecured debt has come full circle since our published research report on Feb. 28, at 82 cents on the dollar. Two months later our model sold it's position at 100 cents on the dollar, a 22% cash on cash return. Shortly, after that these bonds dropped in price to 85, on Friday 5/21. Our model portfolio re-established a half position at 85.

Stephen P. Vlahos

 

Download Smurif Stone Distressed Debt Research

 

 

Distressed Debt Investing- Smurfit Stone

 

 

We have changed our research opinion on the distressed debt securities of Smurfit Stone to Neutral from Buy. The reorganization of Smurfit Stone has been approved and the company is exiting out of chapter 11 bankruptcy. Distressed debt investors of Smurfit Stone unsecured debt will recieve common stock in exchange for their bonds. This action was taken not because we are nervous of the global market turmoil or from changes in the long term prospects for Smurfit Stone. Simply, the price of these distressed debt securities have hit our price target. Our model portofolio has sold it's position at Par (100). Our cash on cash return is 22% which equates to a 132% annualized return. We will revisit this trade if the unsecured debt pulls back to 88-89. You can contact Performance Plus Advisors, Inc. (727-441-1305 ext 203) to learn more about our research reports. Performance Plus Advisors, Inc. specializes in research and analysis of companies in chapter 11 bankruptcy.

  Smurfit Stone Container Corp.

 

sscc.gs (8% coupon)    price 2/28 at 82    price 4/29 at 102.5

 

sscc.gd (8 3/8 coupon)   price 2/28 at 82     price 4/29 at 101

 

sscc.gg (8 1/4 coupon)    price 2/28 at 82    price 4/29 at 102

 

Stephen P. Vlahos

 

 

 

Distressed Debt Investor-Stephen P. Vlahos-Performance Plus Advisors, Inc.- Contact Information

Here is a picture of Steve in his office.

Performance Plus Advisors,Inc., specializes in distressed debt investing, trading and research.

Contact Information:

Stephen P. Vlahos

Performance Plus Advisors, Inc.

(727)-441-1305 ext 201

[email protected]

[email protected]

.