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Pastimes : The Naked Truth - Big Kahuna a Myth

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To: wlheatmoon who wrote (51162)7/12/1999 9:23:00 AM
From: John Pitera  Read Replies (1) of 86076
 
Mike, I have seen that Lehman Note deal where you need the 17% return on average per year thru 2004, to get the equity participation.

Lehman I'm sure feels confident that we won't see that level of performance over the next 4.5 years. I think they can hedge that well, since they don't have to worry about increasing interest rates among other considerations.

It is an intriguing product, no doubt.
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