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You know you're in serious zombie market territory when bankrupt companies are raising $1b on equity markets: https://www.marketwatch.com/story/hertz-seeks-bankruptcy-cou...

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It's no worse than startups that went public during the dot com era. At least these bankrupt companies have some operating history and physical assets.

Dot-com paper companies that had no assets and no revenue also had no debts.

Here, we're talking about the vastly different proposition of raising equity in a company where debts outstrip assets.

I understand. If you don't like it, buy puts.

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