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Strategies & Market Trends : Range Bound & Undervalued Quality Stocks

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To: Larry S. who wrote (4870)	12/4/2001 8:44:30 AM
From: BWAC	Read Replies (1) of 5499

There is no reason to buy GX common stock other than a trade. If you want to invest in Global Crossing at this point in time, buy the bonds trading for 20 cents on the dollar if you can find a seller or buy the preferred stock GBLPF which is priced like 99% chance no dividends will ever be paid again. GBLPF can be converted into 6.3 shares GX, plus has/had a cash dividend of $4.21 per quarter which accrues. Otherwise GBLPF is required to be redeemed for $250 per share cash in year 2012. I figure a fair price to pay for GBLPF (if GX opens at $1) is about somewhere between $8 and $9 dollars, giving a slight premium for moving up the line in equity holdings and the longshot dividend chance. GX has paid this without fail so far. So FAR. I expect a news release about payment/non-payment and deferral sometime around December 15th. MCLD and XOXO obviously were both in a deal with the devil. Otherwise known as the wolf investor in sheep clothing called Forstmann Little. MCLD leaves shareholders 30% of a much better off low debt company with almost $2 Billion in sales. Maybe MCLD is fair tradeoff. XOXO is dust.

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