Don’t look now! It’s a frightening scenario for investors with a stake in US coal.
Even as we speak, money is disintegrating. No one seems safe. It’s like a mass murderer is on the loose. Investors in both stocks and bonds of US coal companies are suffering profusely. Someone please! Stop the bleeding!
On Tuesday, Bloomberg reported this horrifying reality: “Two months after Peabody Energy Corp. raised $1 billion from the junk-bond market, buyers have lost 18 percent in market value as a slump in coal prices worsened.”
Bonds! People who bought Peabody’s 10% bonds have lost 18%! Continue reading "The Case Of The Vanishing Money And Attempted Murder Of U.S. Coal"