March 21, 2012
D ear Mr. Berko: Please give us your thoughts on First Commonwealth Financial (FCF — $5.77), which is here in Pennsylvania and which is where we have our checking accounts. Also, give us your opinion of Popular Bank, which is in Puerto Rico.
My brother has worked for Popular Bank for 11 years, and he believes this bank is going to have a strong recovery in the coming two years. He also suggests that we invest $17,000 to buy $100,000 face value of North Korean bonds, which we can buy from the broker his bank uses. He thinks that because of the change in leadership and an agreement to talk about nuclear issues, the new leader will pay off these bonds at 100 cents on the dollar plus accrued interest. What do you say about this?
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