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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (88287)	1/11/2001 2:48:19 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

Unlike a closed end fund, the warrant is automatically redeemed in February of 2002 at a price equal to approximately (current euro price in dollars-.87)/.87 times $50. Let's hope it goes to a discount: free money. Meantime, depending on how well the euro holds up and the disposition to bet on it against the dollar, the premium could increase. I think the decline in premium reflects skepticism that the euro will stay up. Or possibly some kind of hedging operation. One could short the euro and buy the warrants.