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Strategies & Market Trends : Value Investing
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To: rjm2 who wrote (11172)9/21/2000 1:35:09 PM
From: Allen Furlan   of 78669
 
Re, ebsc. Have not yet received proxy, but quick reading on edgar filing indicates that an acceptance of cut off price is available(equivilent to offering at 4.5). IMHO all shares required by the tender will be offered and the price will not exceed 5. Since Mr. Market has such disdain for department stores I would expect stock to drop somewhat from that price, therefore anyone buying now may not get any appreciation of their purchase price versus a weighted post tender value. However I plan to buy more shares after the tender because the recent events on this stock are bullish in the long term.
Re, fnv. This company mentioned recently. I increased my position by adding a covered call position at 6 1/8 net of the October 7 1/2 calls sold against the stock. Also note this stock has takeover rumors and a buy out is not illogical. If this occurs and a cash offer is made, selling covered leaps is a great strategy since the long term options collapse under such a merger.
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