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Non-Tech : Convertible Bonds -- Ignore unavailable to you. Want to Upgrade?

To: Rocky9 who wrote (77)	9/20/2003 3:53:08 PM
From: Rocky9	Read Replies (1) \| Respond to of 83

It has been awhile since I have posted. The prices of the bonds are almost all up again. Some of done very well. ICGE, SFE, and TERN are up HUGE. I don't understand ICGE, but I never have. The assumption is that it has been converting the bonds at premium prices into common. They said that they did some in July, but have not said anything publicly since. I guess I regret not having bought some in July. I still have some SFE. Since it has moved into single digit YTM, I might look into trading for AFFX or TQNT, which I think are much safer bonds. I am still losing quite a bit of money in my RBAK arbitrage. My short at ~.38 of the common is down ~100%. My long on the bonds is up a little. I wish that I could find more shares to short at these prices, since I still believe in the transaction. Bonds are still available in the 38-40 price range. I would recommend them to people who are willing to gamble after doing their own DD. The overall prices look pretty fair to me now. They are not bargains anymore. IMO. The SEPR '06 could actually be a good investment if Estorra is approved. It may eventually be converted if the common could get over 60, which I think is likely is approval comes the drug is as good as the analysts say. ANAD - 52.125 24.14% [85.625 10.19%] (90.375 8.55%) CPN - 36.375 60.17% [93.375 6.16%] (91.50 11.45%) ICGE - 35.0 65.94% [38.5 89.25%] (64.50 46.06%) PMCS - 64.25 16.83% [95.125 5.49%] (97.00 4.87%) RFMD - 78.0 13.52% [99.0 4.27%] (100.00 3.75%) SFE - 57.75 22.6% [79.5 13.77%] (89.00 9.68%) SEPR '07 - 49 24.97% [91.25 7.85%] (94.00 7.02%) SEPR '06 - 54.375 23.93% [93.75 7.92%] (95.875 7.24%) SEPR '05 - 76.125 17.13% [redeemed at 103] TERN - 60.0 17.77% [69.50 15.42%] (85.00 9.76%) TQNT - 77.125 10.70% [85.5 8.75%] (88.00 8.07%) VTSS - 72.0 19.20% [96.0 6.57%] (97.00 6.16%) Others: AFFX - 82.625 9.86% [95.0 6.33%] (91.125 7.77%) MLNM - 78.125 12.39% [97.875 6.18%] (96.50 6.69%) JNPR - 74.25 12.67% [95.35 6.22] (98.25 5.31%) VPHM - 38.125 34.81% [50.5 28.90%] (51.50 29.32%) VRTX - 74.00 12.29% [86.375 8.98%] (87.50 8.78%) I will try to post near the anniversary of the first price posts and give annual returns.