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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Pancho Villa who wrote (8885)	5/17/1998 9:41:00 PM
From: S Shaw	Read Replies (1) \| Respond to of 18691

Pancho/Roger: Skimmed Barron's today. Two things stood out. First, one analyst was quoted that KTEL and AMZN were two of his short calls for the future. Second, the market hits 9200 this week but a look at the Adv./Decline numbers showed that Decliners outnumbered Advances EVERDAY this past week. Am I missing something? Your enlightened opinions please. Scott P.S. Pancho, wish I could join you for a sojourn on the Patagonia Express.

To: Pancho Villa who wrote (8885)	5/17/1998 11:21:00 PM
From: gringodoc	Read Replies (1) \| Respond to of 18691

Hola, mi amigo, Pancho!!! Esta dia, The New York Times has an article on our favorite type of financing, the floorless "toxic" convertible. nytimes.com below is the aol only link: aol://4344:2334.fi05175.24969525.579834020 a snippet: The transactions work this way: The company sells the investor a new issue of convertible-preferred shares -- shares that have priority claims on dividends and assets and can be converted to common shares -- through a private placement. The placement includes a 1990s twist: Instead of the more usual practice of fixing ahead of time how many common shares would be received, these preferred shares are convertible at a floating ratio based on the stock price. The lower the stock price happens to be when the investor decides to convert, the more shares the investor would get. On top of that, the deals may include a discount of up to 30 percent, giving the converting investor even more common stock in exchange for the preferred. Firms that invest in such financings say they are a boon to innovative but cash-short companies. "This is a huge industry involving many of the biggest investment banks on Wall Street," said Mitchell Kaye, a principal of Brown Simpson Asset Management in New York. He estimated that more than 1,000 deals worth several billion dollars will be concluded this year. Even so, some people on Wall Street call such deals "junk equity." (Issues of debt securities with similar conversion features are also growing more common, and pose similar risks.) Robbins of Red Chip Review calls some of them "toxic convertibles" because they offer an immense incentive for unscrupulous investors to drive down the share price by selling the stock short. Generally, when a large number of short positions is taken in a thinly traded stock, the price falls.

To: Pancho Villa who wrote (8885)	5/17/1998 11:55:00 PM
From: Joey Two-Cents	Read Replies (2) \| Respond to of 18691

Good evening Pancho. Talk shows (Meet the Press, This Week,Face the Nation) this Sunday giving coverage to a possible Chinese-DNC/Clinton donation connection. This ain't no Monica Lewinsky rendevous in the Oval office. Its amazing China uses slave prisoners to make goods, fires missles at Taiwan and tries to buy US elections, is given most favored nation status. While India is being punished for trying to defend itself from China. Summit Leaders fear plunge in US stocks washingtonpost.com US companies (oil) with business in Indonesia dallasnews.com