Posted By:
Richard MassonWouldn't it be easier to just make side bets on SMR price changes every month?
Just another sign of the apocalypse.
I'd hate to be this guy's lawyer in a couple of years.
So many ways for it to go bad...
What if the secondary market trades at a discount (like almost all closed end funds)? Can the promoter buy up shares, sell the card and pocket the difference? Who can sell the card? Can the promoter sell the card and distribute the proceeds to the shares even though all shareholders may have purchased at different prices? And even if this results in a loss to some or all shareholders? Shares being sold primarily to unsophisticated investors (Gee, Mr. Keating, I thought these holding company bonds were federally insured bank deposits!).
The only way this doesn't end in a train wreck is if it never leaves the station. End this thread and run away-NOW.