Wednesday, March 25, 2009

Oops Made a Mistake Describing GJN

The float provision in GJN is 1% over the 3 month treasury rate rather than 6 month LIBOR  (see Page S -2) so I am going to have to correct an earlier post from today to reflect that error. BUY 50 GJN/Japan Sinks Deeper into the Mire/CBG Upgrades/Law Enforcement On Vacation for Mortgage Fraud/New Home Sales Up I had another one that I was trying to buy that had the LIBOR float.  
This error does not change my opinion since I still view a 3%+ average 3 month treasury bill rate over the 26 year period to be reasonable, 1% is added to the 3 month T bill rate, and there is a 3% guarantee.  I was trying to do too much today. 

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