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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: carepedeum2000 who wrote (20495)	2/15/2000 10:13:00 AM
From: Steven Finkel	Respond to of 57584

Good call carpe! One final PLCO post. I promise not to harp on it all day. BUT. With plco now at 5/8, fair value for the IMMMEDIATELY convertible preferred shares is 3.75, and is only trading at 2.875. SO if you were to buy the preferreds, convert them and sell the common, your 2.875 buy today would be worth 3.75 tomorrow. (Yes I understand that the commons could go down in that short time, and thus there is the risk. BUT, it seems plco is finally gaining much deserved momentum and I would be surprised to see a quick reversal this week, with earnings due out soon. Even without earnings, PLCO is markedly undervalued)