Bloomberg Businessweek

Lehman. Trump Casino. There’s a Market for That

Collectors shell out hundreds of dollars for stock and bond certificates of famous failures

“I should have bought more Lehman” is not something you hear every day.

But it’s an honest regret for Bob Kerstein, who makes a living buying and selling what traditional investors would consider worthless equities. During the financial crisis, JPMorgan Chase & Co. bought Bear Stearns Cos. for $10 a share. Kerstein will sell you one for $395. A share of Countrywide Financial Corp., taken over by Bank of America Corp. for less than $5 a share, will run you $199.95. Prefer

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