Psst. Hey, you, buddy! Yeah, you.
Calm down, no one's gonna mug you here. I just wanna talk business.
Have I got a deal for you.
Now, hey, don't be like that. What I've got here is legit. It's an SEC filing. Honest. Here it is. Here's my offer. I think you'll find it hard to refuse.
You fork over some money. That's the deal.
Really. You fork over some money. Simplicity itself. There's a business starting here, and it needs your money. It's called a "blank check" company, but of course, you can't leave the check blank really. You have to sign your name and all that.
What's the business do?
Come on, why ruin a nice, budding relationship with a lot of details?
OK, if you must know: It's gonna buy assets. Financial stuff, real estate, maybe. Don't you read The Wall Street Journal? You know how hot that stuff is these days. The real estate market is booming, right? People are paying 70 cents on the dollar for defaulted loans backed by tugboats that might not even exist. You can get a piece of that action, Sparky, you and me. Or maybe buy a business. Who knows? Sky's the limit, though, right?
That's the plan. No promises, though, OK?
Which assets? When? Well, let's just leave that for later, huh?
What do you mean "it don't sound like a square deal?" There's no indication of any wrongdoing here. Would Deutsche Bank (NYSE:DB) and BB&T (NYSE:BBT) be involved if this here deal weren't on the up and up? And listen, Ferris, Baker Watts wanted the business so bad they're suing over it. This is a hot commodity.
What do you mean you could just go out and buy pieces of a proven debt or real estate asset-management business like PortfolioRecovery Associates (NASDAQ:PRAA) or Equity Inns (NYSE:ENN)?
Old news, Sparky, old news. You're getting in on the ground floor here. This could be something big, right?
What's not to trust? Listen, the guys running the show are old pros, they come from Textron (NYSE:TXT). You know, the outfit that makes Cessna airplanes? Yeah, they were in a financing division doing loans. Timeshare stuff. Land development. Big business. It's all here in the filing, but you don't need to read it. You get the gist.
So how about that check? Six bucks a share. How many you want? They got 20 million.
Make it out to Cold Spring Capital (AMEX:CDS-U), please. It's the IPO today. Pretty sweet, eh? And don't worry, this is gonna work out great. How can it not?
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Portfolio Recovery is a Motley Fool Hidden Gems pick and Equity Inns is an Income Investor recommendation. Check out a free trial of those newsletters or any of the Fool's other offerings.
Seth Jayson isn't 100% opposed to buying a pig in a poke, but he's not going to pay much. At the time of publication, he had shares of Portfolio Recovery Associates but no positions in any other company mentioned. View his stock holdings and Fool profile here . Fool disclosure rules are here.
