Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Mr. Pink who wrote (14173)	9/26/2000 6:41:06 PM
From: Peter V	Read Replies (3) of 18998

perhaps you could enlighten a poor fellow, Mr. P. Why would a hedge fund manager, who has been critical of CNC and appears to believe it's a POS, own the company's debt? Isn't there a significant risk that the debt is never repaid? Is that ownership offset by another instrument, such as short shares, to reduce the risk? Sorry if this is such a mundane question, I'm just seeking to learn a thing or two from the master. I'm hoping you have some intuition as to why Mr. Loeb, who seems to be a bright fellow, would own CNC debt.

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