Not deterred (in fact spurred on) by my death threat last night I offer up two new insights for those unlucky enough to own Gulf Keystone (GKP) shares. I do not delight in your misery just suggest that you consider cutting losses before they become even greater. As they surely will. First to the bond market.
It has been suggested that the secondary market in the existing $325 million of bonds is so illiquid that the price means nothing. Au contraire. It is the price of shares, set by buying and selling by –very often – uninformed investors which is wrong.
An interesting tweet emerged yesterday from Waz Shakoor, a man with an amazing record of buying deeply distressed bonds at the right price – he made a killing buying Greek bank debt. How many folks can say that? Waz tweets:
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