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Technology Stocks : WCOM -- Ignore unavailable to you. Want to Upgrade?

To: Doug who wrote (8792)	6/19/2001 12:54:27 PM
From: Oeconomicus	Read Replies (1) \| Respond to of 11568

Arbs will only close positions if the spread is too small to justify holding 'til the deal closes. Those that hold will receive WCOM stock with which to cover their short positions. No buying or selling involved. That said, I haven't checked the current spread. As for the sell-off, all I can think of to attribute is the current simplistic view that anything in communications with debt is bad. Too many investors can't distinguish prudent from imprudent use of debt. Then again, they couldn't distinguish fluff from real businesses a year and a half ago either (and overpaid for both), so why should today's conventional wisdom surprise us? The reception of WCOM in the debt markets recently is a real positive, IMO. This is a great buying opportunity. Regards, Bob