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Technology Stocks : BORL: Time to BUY!
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To: Sam Scrutchins who wrote (7605)11/20/1997 10:42:00 AM
From: Neil Booth  Read Replies (1) of 10836
 
One other thing. These guys that are claiming VSGN is a cheap way into BORL, well I say to them go for it if they're so damned sure. The fact that the market is _NOT_ pricing VSGN at 0.81988 of BORL shows that their is risk in this play, that the poster was trying to imply was a one way bet that disadvantaged BORL shareholders. When the ratio was 0.65 it's worth doing, but not at 0.75 or whatever it is now.

Everyone's free to do it; so go for it. But you just might get rogered by it (which is why BORL trades at a premium, if you like, because BORL shareholder's can't get rogered from this point on). The upside is $1 per share; the downside is about $3.5 to where VSGN was before. You can work out implied probabilities from that.

Neil.
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