Matt Levine on (without loss of generality) Netflix bonds is both instrumentally useful for tech people and a great seeing-the-world-in-different-lenses exercise:https://www.bloomberg.com/opinion/articles/2018-11-05/expensive-stocks-make-for-good-bonds …
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Replying to @patio11
Would Netflix need to got to zero stock price for them to default on their bonds?
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Replying to @ClayNichols
Essentially yes; bondholders sit above equity in the stack at bankruptcy liquidation.
4:43 PM - 6 Nov 2018
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