timhb bonds, page-3

Hi Robbo,
Thanks for the reply.

I also came across this from The Intelligent Investor.

"Finally, we come to the two senior securities, the Timbercorp Bonds (TIMHB) and Timbercorp Orchard Trust Debentures (TODHA). Were downgrading the bonds to HOLD at the last traded price of $74.90. While the security remains what it was you could now sell the land and water rights for less than half price and still get your money back we dont think the returns on offer are high enough to justify the risk and hassle of going through receivership. At anything less than $50, these securities represent extraordinary value even if we have to go through a liquidation."