Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: KyrosL who wrote (33891)	5/19/2003 3:50:32 AM
From: energyplay	Read Replies (1) of 74559

Hi Kyros - People have been talking about the dollar & the S&P being over valued fro a long time. I expect many European portfolio managers who have large holding of US stocks shorted indexes or select stocks a year or so ago. Now that the dollar is down 25% and the S&P off, they are covering or picking up bargains. haven't figured out how much could be made by this trade, but it 's a lot. Thanks for RRI and MIR. I'm now looking at ILA (Aquila) - closed at $3.14, about $8 book, about $4 cash. 600 million debt, sale of UK power plant may bring 1.6 billion.. That's preliminary, I'm a long way from DD but I'm buying now...

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