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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Fun-da-Mental#1 who wrote (18731)	9/12/2002 5:25:11 PM
From: Frank Pembleton	Read Replies (2) \| Respond to of 36161

Fun-da-Mental -- as for spelling it out? "H e d g e F u n d" Sherritt, the dummies that they are have over $600 million worth of these CDs on their books, so what happens is a HF buys a boat load of these convertibles - [you get paid to do so from the income it generates] - from there you short the stock and slowly convert the debt into equity which causes downward pressure on the common shares. ...and I haven't even touched upon the repatriation issues surrounding their holdings in Cuba. It's a strong table-pounding sell if you're holding the stock - and if you aren't? AVOID! Regards, Frank P.