To: Terry D who wrote (26789 ) 3/18/1998 11:46:00 AM From: Knighty Tin Read Replies (4) | Respond to
TD, What's the problem? Suckers are still buying the stock no matter how lousy the company does and how bleak the future looks. -g- My guess is that we will have an upside blowoff when they finally declare bankruptcy. Of course, that will be a while, since the terminally gullible (at least their assets are terminal) who bought the convertible can't demand payment of interest, which seems kind of basic to me. Oh, yeah, those guys made a wise decision. I would like to do a deal with them where they can either name the rate or the time over which it is paid, and I get to set the other side of the deal. The only restriction being, they go first. -g- You call the rate, I name the time. You name the time, I call the rate. Most bond buyers are too smart, i.e., IQs in high double digits -g-, to fall for that one. But these Micron convert fish look like they'll fall for any scam that comes along. I suspect most are in convertible arbitrages right now, shorting the stock against the convert. But, if they get no interest, or even have the possibility of getting no interest, an arb doesn't work.
