Thursday, December 11, 2008
KOOR as Credit Suisse (Somewhat Irregular) Derivative
Koor has offered me the fourth series of rights to buy stock cheaper than in the market. If I am right, the price is 25% lower than TASE, but the woman at the bank said it is half price. Anyway, I bought all the former series and am losing about 90%. Koor has embarked in a speculative campaign to buy Credit Suisse shares with a loan from Goldman Sachs. By now must be owning 3 to 5% of Credit Suisse, which is a lot. When Credit Suisse´s price goes down, Koor sinks to the depths; when Credit Suisse´s shares go up, Koor should be in heaven, but in fact it is sinking even deeper. Anyway, I cannot resist a nice speculation and bought all that was offered to me. A sign that I have not changed.