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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Michael Burry who wrote (10941)	7/15/2000 7:17:01 PM
From: Allen Furlan	Read Replies (1) \| Respond to of 78825

Mike, re bonds. Does anyone on the thread have a rationale as to why convertibles often trade as distressed bonds. My most recent buy was for alterra healthcare(ALI) 5 3/4 of 2002 at 52. Bonds are now 42. Following news seems terrible for stock(dilutive effect) but great for 2002 maturity bond. biz.yahoo.com My bonds will be junior to new bonds in case of liquidation, but it seems to me that the use of the recent proceeds give this company an excellent chance of avoiding liquidation. In any case, I prefer to invest in "safe mergers with calculable annualized yield characteristics, ie currently hold fpc,mcn,cg and ede. Mike please lead cheering section to get this threads participants interested in you arbitrage thread. Thanks.