Tuesday, October 22, 2013

Mexican bond brokers

If you're in the historical bond business, you know full well that deals are hard to come by, especially when you want to sell a high-end bond. I have come to know more than fifty brokers, perhaps five real sellers, and just two real buyers. When I say "real," I mean someone with capacity to close a deal. It's one thing to have a lot of enthusiasm for the transaction and something else to have the capacity to do it. The real buyers I know - one in the Western U.S. and the other in New York - don't just talk, they negotiate and close. Buyers from Europe are non-existent as far as I know. Beware of brokers who try to sell your bonds in Europe. If they do, you'll get pennies for them. Beware of brokers who ask for complete packages. That's a sign someone will use your bonds for collateral for a bridge loan while you sit there waiting to be paid. It's definitely best to do these deals attorney-to-attorney or bank-to-bank. As far as brokers go, I would say they are all very hopeful - some are outright dishonest - some are misinformed - but very, very few are well-connected. A word to the wise. 

Saturday, October 19, 2013

Liberty bond 10000

The popular bond of the moment seems to be the Liberty 10000. Bond buyers are paying really good money for it. A close friend recently made an offer on one (which I located for him) but was rebuffed. His seven figure offer was just too low. When you get to discussing more than seven figures for one of these (or any other) bonds, one of the problems is that buyers and sellers get quite intransigent. Of course, that's no way to make deals. If you want to sell, shove your ego to one side, even if you don't need the money. If you are a buyer, be careful of anyone offering a Liberty 10000 because they are more rare than a Stradivarius violin. You are under no obligation, of course, but you may contact me at pronetoviolins at gmail dotcom if you have a bond and are seeking a real buyer. We DO NOT deal in packages - only face-to-face transactions. Those are the best deals and the only ones that work. Have a great day.