Applied Magnetics Corp Message Board

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Technology Stocks : Applied Magnetics Corp

APM 1.141

+3.8%

Dec 18 3:59 PM EST

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To: Tom Simpson who wrote (11951)	5/16/1998 10:00:00 PM
From: Frodo Baxter	of 12298

>What irritates the hell out of me in this case is that I didn't get a shot at buying the damn things. Well, they've been registered, so I don't see what you're complaining about. Oh, you mean you wanted to buy them at the offering? Hehe. Become an institution. >In a lot of ways they look more like a form of common stock with preferences....namely a 6% dividend and full participation on the upside. Stock with coupon... bond with upside... same thing. To tell you the truth, low double-digit returns don't get me too excited. You can construct more or less these same risk profiles with derivative instruments. p.s. I hear the APM converts are pretty cheap...

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