The reason I closed this is because I did not buy early,so making it only a trading option.But I learned one thing -when the government is actively manipulating the markets,buy what the government favors.Bill Gross is bullish on AIG,on the face of it seems laughable but the logic is impeccable once explained by the master -the government has put in 200 Billion in AIG and therefore it will not let it fail.So the creditor is not AIG but the US Government and by default the taxpayer.But who gives a f@#$ about the taxpayer ? So by buying AIG you are guaranteed by the us of a.The NAV is irrelevant because the government is prepared to pay cash for trash.I would have held on if I had bought this earlier -this has effectively doubled since October.But overall I think corporate bonds are going to go up.Let them take a breather,I am getting giddy at these levels.
$7.798 (01/21/09)
