Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Don Westermeyer who wrote (17239)	1/28/1999 10:56:00 AM
From: Oeconomicus	Read Replies (1) of 18691

Déjà vu all over again. Can't have those AMZN shareholders diluted by simply issuing 4 million shares of stock to raise a half billion. No, that would increase the share base by over two and a half percent. Better to issue more debt. Even better, do it offshore so you don't have to tell anyone the details until months after the deal is done. Sound familiar? Absolutely amazing. A letter writer to Barron's in the Jan. 18 issue, on the matter of last year's decision to take on debt to fund current operating losses, used the term "grandiosity". I think hubris is a more appropriate term. Perhaps, though, a better short than the stock would have been the old notes. I wonder how they are trading. Bob

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