Leap Wireless International (LWIN) Message Board

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Technology Stocks : Leap Wireless International (LWIN)

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To: slacker711 who wrote (1814)	3/28/2002 8:38:25 PM
From: pcstel	Read Replies (2) of 2737

slacker: I wonder how quickly CSFB is going to have to change their model Let's see.. A 200 million EBITDA loss! LOL!! Well, the bad news is that I don't hold any LWIN equity! ZERO!! Not a single share! I sold off 20% of my portfolio each of the last 5 trading days! The good news is that I bought a equal amount of Call Options representing the underlying shares I sold! The risk of a "going concern" was too great to ignore! Why the wait until 11:59:59 to amend the convenants is beyond me! But, this stock would have surely seen the $6 range with a going concern tagged onto the 10-K! So I sold! But, bought the derivative. I had complete faith in my financial model, but not in the good nature of LU. That was something I could not stick into a spread sheet! PCSTEL

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