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Technology Stocks : SUBMICRON SYSTEMS (SUBM) Great Buy!
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To: John Rowe who wrote (976)9/21/1999 12:27:00 AM
From: jeffbas  Read Replies (1) of 982
 
Well, for me it was an interesting pain in the ass to maybe lose 10% on my notes, even though I will receive nothing for them in bankruptcy:

-sale of converted stock obtained in exchange offer for part of original notes
-plus after tax gain on partial short sale stock hedge against new notes gotten on exchange
-plus several years of interest income, after taxes
-plus tax benefits on writeoff of final loss

equals perhaps 90% of my cost basis.

But why the common stock has a bid sure beats me.
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