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To: KeepItSimple who wrote (209568)	12/13/2002 6:28:59 PM
From: mishedlo	Read Replies (1) \| Respond to of 436258

In the best case, the convertible buyers make a ton of money on the short side. In the worst, they get to buy the company for pennies on the dollar. OK I buy the MU convertable and immediately short. At what point do I gain. I assume I Make $ on the short as well as collect interest as long as MU stays in business. Now, Let;s for the sake of argument say that MU rises from $45 to $90. I am deep in shit on that short BUT my buy in price on the convert is $45. Of course if I buy too much of this shit I might have to cover early. Assuming I do not fall into that trap. How can one go wrong buying a convert and shorting the common. If there is no way to lose why should't I take every one of these opportunities? M