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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Pink who wrote (14173)	9/26/2000 1:30:21 PM
From: who cares?	Respond to of 18998

Tis all to typical of the world we live in. CNC can't pay it's loans, so that only cuts it's debt rating to a B. They rework the loan payment terms to keep it out of BK, and so it somehow deserves to get it's debt rating upgraded. It's like kids are getting dumber and doing worse on the SAT/ACT, so let's not try harder to educate them, let's let them miss more questions but give the same score. CMB

To: Mr. Pink who wrote (14173)	9/26/2000 3:04:20 PM
From: Puck	Read Replies (1) \| Respond to of 18998

Does Mr. P*nk have an opinion about the attractiveness of any of CNC's preferred stocks? They do sport fetching dividend yields.

To: Mr. Pink who wrote (14173)	9/26/2000 6:41:06 PM
From: Peter V	Read Replies (3) \| Respond to of 18998

perhaps you could enlighten a poor fellow, Mr. P. Why would a hedge fund manager, who has been critical of CNC and appears to believe it's a POS, own the company's debt? Isn't there a significant risk that the debt is never repaid? Is that ownership offset by another instrument, such as short shares, to reduce the risk? Sorry if this is such a mundane question, I'm just seeking to learn a thing or two from the master. I'm hoping you have some intuition as to why Mr. Loeb, who seems to be a bright fellow, would own CNC debt.