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Technology Stocks : The New QLogic (ANCR)
QLGC 16.070.0%Aug 24 5:00 PM EST
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To: Neil S who wrote (18373)10/4/1998 6:14:00 PM
From: George Dawson  Read Replies (1) of 29386
 
Neal,

I just read all of the posts on both the Death Spiral Preferred (DSP) and Floorless Preferred Stock/Debenture (FPSD)threads. For information content I would recommend the latter, especially posts 3, 11, 14, 17, and 83. Interestingly if you use the new SI feature of searching only the Ancor thread for "conversion" you will see that we have 68 posts on the topic.

The biggest highlights:

1. Several posters view the issuance of a convertible preferred as an indicator for making money on the short side - that is buy short if you see one issued and you can find shares for greater than $5.

2. You should not be long in a stock with a convertible preferred (according to some posters). A quote from the FPSD thread:

"A stock holder staying long in a company that issued a floorless has no business investing in anything but a mutual fund."

My mutual funds aren't doing so hot these days either.

George D.
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