Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: P314159d who wrote (820)	8/10/1999 7:46:00 AM
From: Zeev Hed	Read Replies (2) of 1438

P, of course CC is "quality folk", they are quality folk for their limited partners (I presume they are a "partnership"), they optimize return while minimizing risks. They were involved in Osicom and SCUR which tumbled shortly after the PP. If they played their game right, they would have shorted above the ceiling, getting back all the PP money (and still collecting interest). They do not have to "drive" the price down, it "happens" on its own. Then they have a variety of options, depending on how well the company is executing, if the company does not execute and the stock price falls under the ceiling, they can continue and short (with impunity because of the floorless nature) inducing the death spiral. Zeev

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