Both the bonds and the stock issued by Overseas Shipping Group have been severely punished recently. Here is a comparison of the losses using the prices of the dates that I purchased the bonds.
March 1, 2012 purchased for $61 the $100 bond maturing 2/15/2024. The price now is $42, a 31% loss. The OSG stock closed at 9.06 on 3/1/2012 and now is $3.40, a 62% loss.
April 2, 2012 purchased for $75 the $100 bond maturing 3/30/2018. The price now is $41, a 45% loss. The OSG stock closed at 12.32 on 4/2/2012 and now is $3.40, a 72% loss.
It will be interesting to see if the percentage losses eventually match going forward. I’m hoping OSG will figure out a way to continue paying me nice fat interest payments and avoid bankruptcy, of course.
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