Sweet articles!

If you want to read a really good summarization of a phenomenal turnaround story read this article. It's about Nabeel Gareeb who runs WFR (previously mentioned in a "Bull Stocks" post). He took the company from worthless to $18BN in about 5 years. I am long WFR, partly because in addition to being a good company, Nabeel's my boy and gives one of the best conference calls out there cause he refuses to take crap from analysts and tells it straight.

The WSJ had a nice column here, very short, that talks about how bond and stock prices have handled the turmoil lately. It's a great article for those looking to gain a better basic understanding of what's going on. While it's a good article, remember that bonds are supposed to not get hammered in times like this. They generate lower returns then stocks over long periods of time because they're exposed to risk, meaning in very volatile times (eg the last 8 months) they should retain their value better. Also remember who gets paid first when a company goes bankrupt: bondholders then stockholders. If you want to get the one sentence summary from a guy with a sweet name, it's below:

"The debtholders have done extremely well because the company either sells itself (at the expense of shareholders) at a discount or issues enough equity to put off a bankruptcy," says Boaz Weinstein, co-head of global credit trading at Deutsche Bank.