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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Ally who wrote (11258)	5/16/2001 5:04:15 PM
From: BWAC	Read Replies (2) \| Respond to of 15615

But what always seems to me to be the problem with short convertible holders is that certain part of them that trades around their short/convert position, constantly shorting into strength and covering on weakness, over and over and over, thereby slowing destroying a stocks valuation piece by piece until it just can't go any lower, where they stall it on high volume, standing in front of every buy, and I suspect sucking up shares with the other hand because they have wrung all risk out of the equity, eventually ending up net long, all at the expense of the poor equity holders who thought they paid a fair price pre-convertible note sale. Bottom line is that these convertible securities are interest rate favorable and thus operationally favorable to the companies who issue them. But can and quite often are extremely detrimental to the existing stockholders.