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Gold/Mining/Energy : Mirant Corporation (MIR) -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (201)	2/21/2002 11:24:51 AM
From: Asymmetric	Read Replies (1) \| Respond to of 903

We should have hedged our risk. I think the proper trade in this sector should have been to go long the stronger IPPs and then hedge by going short the weaker, overleveraged IPPs. While it's debatable as to whether Mirant should be considered in the overleveraged category - actually, Moody's solidy comes down on the overleveraged side, come to think of it - all the more reason to hedge a long position in Mirant with a short of either Calpine or AES (or both). Obviously, considering what has been happening over the past two months, the actual money maker trade would have been to go short: Calpine, AES, Mirant and hedge the short by going long Dynergy, Duke, Mirant. Good luck to us all. Peter.