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To: yard_man who wrote (244907)6/10/2003 5:35:47 PM
From: Knighty Tin  Respond to of 436258
 
Tip, Closed ending makes borrowing easier. Also, the great majority of convertible issues are 144bs, or private issues. They are liquid to other institutions, but can't be sold to the public. As an old convert fund mgr, closed end and open end, I wouldn't feel real comfy with an open end that has no public traders in my securities.