OT - Dow plunges 1,175 - worst point decline in history

[echappist]

Originally Posted by likebikes

djia down a thousand a not even a bump?

I was waiting until 8:30 ish EDT Friday morning for the job report numbers.

Otherwise it’s just volatility.

[pbarry]

Double last week’s filings is my guess.
So many hurting, worried and mourning right now.

[azrider]

Originally Posted by kppolich

On topic, bought some more CCL today during the tail end of that slaughter. Christ.

Good grief they're getting hammered

[unterhausen]

after the Coast guard told them to dock at the country the ship is registered in, I suppose so.

[pbarry]

Just looked at my Ameritrade app: I meant to create an alert this morning for Ford, while half asleep, but it was a buy order! I’m ok with it.

[Ozz]

Originally Posted by unterhausen

after the Coast guard told them to dock at the country the ship is registered in, I suppose so.

Liberia?

Ouch.....

Edit: Looked it up (Wiki): "The ships fly flags of convenience: 18 of the ships fly the Panama flag, six that of the Bahamas and two that of Malta. "

[verticaldoug]

Originally Posted by kppolich

nah, the trick is worn out- they are going to have to try something new if they want our attention.

On topic, bought some more CCL today during the tail end of that slaughter. Christ.

you'd be better off buying the 11.5% 2023 bonds sold today. They are first lien, so even if company goes bankrupt, you have first dips on everything. If the company survives, you get 11.5% coupon for 3 years and your money back.

Buying the stock, you have more potential upside, but downside is a goosegg. First lien loans, even if they sell the boats for scrap steel, you'll get a a significant portion if not nearly all your money back.

[Tony T]

Originally Posted by verticaldoug

you'd be better off buying the 11.5% 2023 bonds sold today. They are first lien, so even if company goes bankrupt, you have first dips on everything. If the company survives, you get 11.5% coupon for 3 years and your money back.

Buying the stock, you have more potential upside, but downside is a goosegg. First lien loans, even if they sell the boats for scrap steel, you'll get a a significant portion if not nearly all your money back.

First dibs? Before the secured bank loans??

[jet sanchez]

Can't imagine what is going to happen today, 6.6 million Americans applied for unemployment benefits last week.

And this chart showing consumer spending data from Bank of America is just nuts

[verticaldoug]

Originally Posted by Tony T

First dibs? Before the secured bank loans??

There is only one small secured loan for 271mm Euro. Its for Acq if Britannia in 2015. It is secured with the boat. This bond is a priv placement loan at 4b. It gets the rest.

This is where the pros are. You are wiped out long before they lose a penny

I'm not saying it's not without risk. I am just saying if you are looking at risk in Carnival look here.

[echappist]

How does one get access to buy bonds of that type?

Though on the flip side, 11.5% coupon ( on par, i presume), is way into junk bond territory. What sort of haircut are lenders taking when the defaults come in?

[verticaldoug]

Originally Posted by echappist

How does one get access to buy bonds of that type?

Though on the flip side, 11.5% coupon ( on par, i presume), is way into junk bond territory. What sort of haircut are lenders taking when the defaults come in?

call you FC at Bank America or JP Morgan. They were the arrangers.

[fiamme red]

It's hard to believe that when so many people are depending on food pantries, dairy farmers are being ordered to start dumping their milk: https://www.reuters.com/article/us-h...-idUSKBN21L1DW.

[echappist]

Originally Posted by fiamme red

It's hard to believe that when so many people are depending on food pantries, dairy farmers are being ordered to start dumping their milk: https://www.reuters.com/article/us-h...-idUSKBN21L1DW.

Good lord, this can't be serious.

This is literally what happened during the Great Depression, as producers struggled to get better pricing

https://www.wpr.org/wisconsins-milk-wars-1933

It's probably just a coincidence, and I need to breathe into a paper bag, but man...

Good thing I have some benzodiazepine to calm me down. Though perhaps next things I know, I may have to synthesize them from scratch (which ironically would mean that my graduate education in chemistry will actually get utilized in a practical manner for once)

And speaking of Sartori, they make some of the best cheeses around. I've got two wedges of their stuff (under Trader Joe's labeling) in my fridge.

[Clean39T]

....