I closed my position in GSL (Global Ship Lease) yesterday with a 4% gain in about 10 months. They announced a merger with two private companies that supposedly values GSL at $1.78 a share. People only believed that for an couple of hours, as the prices jumped from $.87 to over $1.50 in premarket, then slid all the way back to about $.95 at the close. Looks like only the investment banker will make any money on this deal. 4% is better than a CD rate, and in this market, any closed out gain is pretty good I guess.
Private Portfolio Update-GSL-Buy-Out?
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