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Technology Stocks : WCOM
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To: c.hinton who wrote (10688)6/20/2002 2:26:26 PM
From: Oeconomicus  Read Replies (1) of 11568
 
When have I said any financing that has not yet closed was "assured"? Be specific.

Now, of course you are right that a bondholder might recover some or even all of his investment in a BK, so your risk of loss is certainly lower. However, if the risk of BK is actually fairly low (or non-existent), then the many times greater potential reward in the equity seems worth a tad extra risk. What probability would you put on the stock standing still for the next year or two? I'd say about zilch. It'll either be at zero or a price several times the current one before your bonds mature. And I'd say the odds of zero are close to zilch, too.

JMO.
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