Priceless. Figuratively

There are buyers, but theycan’t agree on price.

HedgeBay’s Jared Herman, on the nickel bid/dime (well, 11 cents) ask for shares in Bear Stearns High-Grade Structured Credit Strategies Enhanced Leveraged Fund, and the 30 cents bid/70 cents ask for the lower-octane Bear Stearns High-Grade Structured Credit Strategies Fund. (The article later reports that the Enhanced Leveraged Fund has probably been wiped out, making that nickel look like a good deal. The the low octane version could have as much as $400 million in remaining equity. Private transactions are the only way out for fund shareholders while redemptions remain suspended.)

Buyers avoid Bear Stearns' cut-priced sale [$$]
by James Mackintosh and Gillian Tett
The Financial Times Jul 4. 2007