Recently, many people have asked me what I think of Blue Sail convertible bonds. This goods have fallen a little evil - the yield to maturity has soared to 5.6%, and the market has rebounded and continues to fall.

To be honest, most of this wave of kills and falls was caused by Vanke. Now the market is nervous, but if the quality of the company is a little flawed, investors are afraid of being taken over. This panic is estimated to continue in the short term.

I have never touched "problem debts". Note that the problem bond I am talking about is not that it will really default, but that it is the kind of target that is easy to be made up of ghost stories - the texture is questionable, and the market will fall to you as soon as there is a storm.

Of course, this is not to say that such debts are worthless. After the price is down and the mood is repaired, the income is actually not bad. It's just that I'm a cowardly person and can't control that risk exposure. Moreover, this year's market is okay, and many problem bonds have long had no "problem bond prices", and there is no need to join in the fun.

Back to the blue sail. Half a year ago, a friend investigated and said that the company wanted to promote the transfer of shares, but it was stuck in the rule that the downward revision could not break the net assets. The company communicated with the regulator for several rounds, but it was not approved.

As for how to break the net downward revision...... I did consult industry insiders before, and later some investors analyzed me