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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: Seth Leyton who wrote (9701)	7/29/1998 12:57:00 PM
From: Saul Feinberg Jr.	Respond to of 42804

Seth, I don't think the entire short interest is on this private placement. The short publications and recommendations of brokerages,I'm positive, have attracted some people who actually acted on it. As for the bonds selling at a discount, it makes sense. But you can also argue, MRV got a good deal because they get to pay a 5% yield on a junk bond. In the short term, the equity holders get hurt, but used wisely, this low-interest loan, spent on developing real products that sell, the long term benefits outweigh the short term negative effects.

To: Seth Leyton who wrote (9701)	7/29/1998 1:11:00 PM
From: Saul Feinberg Jr.	Read Replies (2) \| Respond to of 42804

To: Seth Leyton From: Saul Feinberg Jr. Wednesday, Jul 29 1998 1:07PM EST -Preview- Seth, It would be an interesting exercise to calculate what effective equilibrium stock price these guys who "shorted against the bond" are looking at ..... any ideas? And then to plot out scenarios depending on whether interest rates go up or not. Anyway, it's just a mental exercise. I don't weigh too much on its effects on the stock price, as to the networking products that are being designed or developed by MRVC