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Strategies & Market Trends : Value Investing
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To: James Clarke who wrote (2040)9/30/1997 6:50:00 PM
From: Ploni   of 78717
 
I fear that I was discombobulated by Ron's post, but I was intrigued by Scott's suggestion that if WHX common goes up to around 20, I might want to short 2.451 shares of the common for each share of the Pfd B that I own.

I'll have to sit down with some scratch paper and think about what the implications would be for such a move.

It's actually surprising to me that many investors are willing to pay more than the callable value for preferred stock. For example, BS pfd is callable at 50, but has traded as high as 55. The good yield that the stock offers isn't enough for me to take the risk of losing almost 10% of my investment in the event the pfd is called.
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