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Politics : Ask Michael Burke

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To: ild who wrote (94171)	1/24/2002 9:26:46 AM
From: Knighty Tin	Read Replies (1) of 132070

ild, Not necessarily. First, they aren't really making profits, other than pro forma, so the great majority of cos. are burning cash. Second, convertibles are very expensive for investors and very cheap for issuers right now. We are coming off the greatest relative performance bull market for convertibles in history. Corporations are pretty smart about feeding the ducks (sucker investors) when they are quacking. And third, the corporate credit quality has gone to hell in a handbasket, so regular bonds are out of the question for many firms.

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