Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: WTDEC who wrote (19592)	4/25/1998 5:24:00 PM
From: Flagrante Delictu	Respond to of 32384

WTDEC, OFF TOPIC. An arbitrageur sometimes hedges his entire exposure, but as Andreas pointed out, it would be counterproductive for Farallon to do that. Since they have chosen to own what they say currently amounts to 4.8% of LGND & since they have reported little, if any, activity that has been mentioned on this board, & since in their 13D filing they have stated that they have engaged in no transactions in LGND or the warrants in the last 60 days, we can assume they are comfortable with an unhedged or somewhat hedged long position in LGND. The question then arises, if they are partially hedged, what is the probable percentage hedged? I chose to guess 20% because the closer one gets to 100%, the less plausible holding such a position gets. Steve chose more. Who knows for sure other than Farallon themselves? Steve's guess is as good as mine, maybe even better.