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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: Razorbak who wrote (134)	10/11/1998 1:01:00 AM
From: Jonathan Babb	Respond to of 1438

Hedge fund: Folks, I just wanted to clear up a few private messages I recvd in regards to starting a hedge fund. I have not started a hedge fund and am not taking investments. I am finishing my PhD at MIT. I did have the opportunity to start a fund in July of this year, and would be worth 10X my current net worth if I had, because the strategy being considered was to short floorless stocks. Of course shorting any stocks, especially small caps, since that time was a big payoff. If the market rallies, I may consider it again, but I would probably only be taking investments from very large private individuals and institutions and would not be looking for any other funds. I especially would not be looking for those funds from a public forum such as SI, as that is illegal. I am more likely to take an academic position or start a new company when I finish (in 6 months), so I was just toying with the idea at this point anyway. I also had several private messages from funds that do the convertible deals. Believe it or not, they tried to convince me that I did not really want to short these stocks. I was offered the opportunity to make convertible deals instead. I normally keep a low profile and don't post on SI. I will probably go back to that mode - it has not been a friendly experience. I will be glad to respond to any private emails or messages (jbabb@mit.edu) and my offer still stands on checking my database for any floorless deals (they are called "lesser-of's" in the industry) if you are long a stock and think they might be in this situation. No inquiries from shorters, please. Jon