The world needs a new Country and Western song updated for today’s investor, along the lines of Mickey Gilley’s “Don’t The Girls All Get Prettier At Closing Time“
Our song might go platinum, all because there’s a new wrinkle (sic) on the menu of get-rich quick schemes.
Billions of dollars in corporate bonds sold to retail investors come with an unusual provision that could be used to generate a fast profit. There’s just one catch: Investors must team up to buy the bonds with someone who is about to die … major U.S. companies often issue bonds with what is known as a survivor’s option … investors can recruit a terminally ill person and together they can scoop up these bonds on the open market at a discount. When the ailing bondholder dies, the surviving co-owner can then redeem them at face value and potentially turn a quick profit.
So bottom-line-wise, if our intrepid investors aspire to the big bucks, they need to partner up with a suitable co-owner just before closing time.
There’s only one snag for us as aspiring songwriters.
We can’t think of anything that rhymes with “co-owner”.
[Tip: In case you missed it, click the link to Gilley’s video.]