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Paper Gains

Would you pay $300 for an Enron bond? These folks will.


By Aleksandrs Rozens

March 24, 2008

When Enron went into bankruptcy, its stock and debt were viewed as pretty much worthless. Now, seven years after one of the most memorable corporate failures in history, a 9-1/2% bond from the defunct energy company has an offer price of nearly $300. Chances are the folks who will buy the bond issued in 1988 with Ken Lay's signature are not distressed debt investors but hobbyists who enjoy collecting paper bond and stock certificates, a pastime known as scripophily.

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