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Gold/Mining/Energy : Mirant Corporation (MIR)
MIR 25.97+7.0%Jan 9 9:30 AM EST
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To: KyrosL who wrote (276)2/25/2002 10:00:37 AM
From: Oeconomicus  Read Replies (1) of 903
 
Kyros, while the dividend is tempting (especially for tax deferred accounts), conversion parity is currently almost $15 (if the preferred is at $27). That's about a 100% premium over the common. The dividend and preference do make this a less risky investment than the common, but you've got to collect a lot of dividends to make up for the conversion premium. I don't think you'll share in the upside of the common to the degree you seem to expect.

JMO,
Bob
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