Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Puck who wrote (810)	8/7/1999 10:21:00 PM
From: Zeev Hed	Read Replies (1) of 1438

Puck, you must understand the basic principle of floorless instruments first, I really suggest you read the post early on this thread. Anyone can short any traded stock in the US, all you need to do is find shares you can borrow. You have to put a collateral, but if you hold a floorless it is your collateral. If you hold a reg S floorless it iw your collateral as well. In the case of the Reg S and a P$D operation, the Reg S bandit may wait until the pump is in full swing to short, but it does not have to wait until he can sell his instruments or even the underlying securities, he just short in the normal fashion, using his paper as collateral. Zeev

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