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Strategies & Market Trends : Floorless Preferred Stock/Debenture
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To: Peter Sherman who wrote (1107)1/13/2000 9:44:00 PM
From: Larry Brubaker   of 1438
 
Post #3 on this thread is a classic for understanding the worst case scenario of how floorless convertibles can work.

I'd add that it is important to look at each floorless situation individually, and to understand the terms of each floorless deal. The simple presence of a floorless is not necessarily a signal that an immediate short is a guaranteed profit. Floorless issuances come in many varieties, some more toxic than others.
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