Debt analysts at Gimme Credit have long been known for the acerbic, snarky aside even as they deftly steer investors away from dumb bond investments. This one on Baltimore's Sinclair Broadcasting is pretty brutal:

Sinclair Broadcasting says TV stations are too expensive, so it's diversifying by buying non-TV investments on the cheap. So in December, while the rest of us were shopping for gifts, Sinclair was out buying investments in apartment buildings, a shopping mall, an alarm company and a fund that lends to small businesses. There must be some coherent strategy here but this random buying spree makes management look like it's easily distracted by bright, shiny objects.