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Technology Stocks : JDS Uniphase (JDSU)
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To: Guy Gordon who wrote (6031)2/6/2000 1:45:00 AM
From: Curtis E. Bemis  Read Replies (1) of 24042
 
Buying ETEK for JDSU

Hi-- Very interesting on "risk arbitrage". We could add a
few more examples that illustrate the risks involved. The
CIEN-TLAB affair comes to mind. I was lucky to escape that
one without losses. And, we have the LTCM affair, which is
related to CIEN-TLAB. LTCM almost took down the whole
world economic infrastructure and the gummit had to intervene to save it. Besides, LTCM had Nobel Prize winning
economists taking them down----optioned at ethereal levels.
Maybe this suggests that those professionals are not as good
as is espoused by Sims. I would not dismiss the risks that
easily tho.

Now, both of the above examples are extreme and those
particular circumstances were indeed unusual----in fact, I
might even claim the bungling and involvement of LU in the
CIEN-TLAB affair should have been an advance warning that
LU would have the future troubles they currently experience.

Buy ETEK for JDSU ??? There are risks but is not that what
investing is all about, if you do the DD ?? Good luck.
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