The Thread Formerly Known as No Rest For The Wicked Message Board

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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked

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To: R.E.B. who wrote (63414)	9/30/1999 12:31:00 PM
From: Bob	Read Replies (2) of 90042

R.E.B. I spoke with the treasurer of PIOS last week concerning the short interest. He said almost all of it is related to a $143 million convertible debenture(convertible into 9.1 million shares) which works out to around $15.75 per share. It is in the best interest of the holders of the debenture to short the hell out of this stock (which they started doing last year around $16). If there is a buyout, they just convert at the $15.75 price, so they are in a win-win situation. I believe their yield on the debenture is over 9%. I am long PIOS, bobp

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