I'm still digging the GM bonds. right now basically the bondholders want 50% of face value, gm has mentioned 30%. Face value is $25, so you are looking at $7.50 - $12.50 for when GM buys it back (with GM stock though). trading at $3.... My basic hopes are that GM makes the offer on a day when the GM stock is trading a little lower, as then it will be more GM shares per bond. Should be a nice profit play over the next 18-24 months.
Really thats half the question, when do you intend to pull out the $, or is this part of long term investment for retirement