Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Zeev Hed who wrote (200)	12/5/1998 11:42:00 PM
From: LTK007	Read Replies (1) of 1438

ZEEV,you mean that now that I am learning about identifying toxicfloorless convertibles--I now must watch out for toothlessfloorless and leakyfloorless:) wow! challenging stuff---I now own a stock that I bought AFTER they got "raped" by a convertible deal that was so complex that I think the mind that wrote up the deal had to be an evil genius--and I doubt very much that the company signing the deal realized they were being swindled---the converts are now gone,and I bought 20,000 shares of it at 50cents--this is a company of super egghead scientists,when confronted with these wheeler dealers,they were clueless--BTW,this company would have gone under but were saved by Drug Company money coming to the rescue and then going into a merger-- but it was then I realized,just what sharks this wheeler dealers are-- could this problem simply be resolved by the SEC simply outlawing floorless(toxic,leaky,or toothless) convertibles--I believe this would be a marvelous action on the part of the SEC.Good Luck,Max

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