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Strategies & Market Trends : Floorless Preferred Stock/Debenture
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To: Mark Marcellus who wrote (1183)6/27/2000 8:35:00 AM
From: Zeev Hed   of 1438
 
It seems that he still did not understand the structure since he stayed in. Hayes, was the model after which hundreds of other floorless were structured. He had the " good sense" not to like the deal, but I think he did not believe that this deal could kill Hayes, it did, Hayes went bankrupt and Cramer lost everything. Even that article fails to explain that not only the bandits shorts are like shooting fish in a barrel, but the lower the stock goes, the more they can short. He still did not understand, that the bandits took their money of the table and then kept doubling it on every halving of the stock.

Zeev

Zeev
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