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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: Larry Brubaker who wrote (26542)	11/15/1997 8:14:00 PM
From: Richard Mazzarella	Respond to of 35569

Larry, you may be correct. I was assuming no discount which as you point out the discount "funds" the shorting. A convertible not with a fixed price that is either premium or discount can still be played by conversion and then selling just to push the price down. Simple shorting the stock gives you your profit. If the stock could recover, you keep some at the bottom. As you point out discounted is no risk profit. One can kill the company and its shareholders, but that doesn't bother slimeballs. A premium of 25% would make it difficult to make a profit unless there is something in the cost algorithm that minimizes the premium.