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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Alex MG who wrote (29001)	9/28/2001 12:28:40 AM
From: Alex MG	Respond to of 30051

re TXCC... Mike Vogelzang, president and chief investment officer at Boston Advisors … "If they can minimize future losses and not burn cash, you're buying five dollars in cash for four dollars," said Vogelzang. "Who cares what earnings are? You're buying cash. And at some point in time earnings will turn around." President of Advisors!!! And a simple check reveals... "In the third quarter of 2000, we sold in a private placement $460 million of 4.5% convertible notes due September 12, 2005. As a result, we incurred $460 million of additional indebtedness, substantially increasing our ratio of debt to total capitalization. In April 2001, we adopted a repurchase program for our convertible notes, and we may be repurchasing some of the notes from time to time at varying prices. During the second quarter of 2001, we repurchased $82.2 million of our convertible notes due September 12, 2005." Ha! what a joke!... Thank Gawd I just trade stocks and don't hold em