Arcon Energy (MIDL Presently) The Ultimate Sleeper Message Board

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Gold/Mining/Energy : Arcon Energy (MIDL Presently) The Ultimate Sleeper

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To: Ga Bard who wrote (296)	5/23/1998 10:14:00 AM
From: George Burdell	Read Replies (2) of 4142

P vs W ... I'm trying to understand why the preferred is so popular among those that classify themselves as 'investors' vs 'traders'. Unless the long term gains are pretty modest - MIDL @ $1.25 or something, it seems that the warrants are much higher octane than the preferred. I admit to being new to the stock, so maybe the preferred made more sense at lower price levels, but for now, I can't see any reason to 'invest' in anything other than the warrants. I also can't see why an investor would convert the warrants prior to either impending expiration or ultimate sale, if arbitrage gains were available. Not trying to slam anyone's investing style, but I just don't grok the preferred preference by those that are apparently both in-the-know and intelligent. Looking for clarification. I own a modest amount of MIDLW that I intend to ride up or down for the duration. O GB

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