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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Richard Nehrboss who wrote (43781)	1/18/1999 12:16:00 PM
From: Knighty Tin	Respond to of 132070

Richard, No, because the preferred isn't convertible. The common could go up and the preferred wouldn't follow, or at least not much. It might be a better spread with other pieces of paper. For example, if you think junk credits will outperform higher quality, then long this one and short something like Gabelli Multimedia Preferred, a AAA rated piece of paper, might do the trick. I personally don't like that trade, but it would be a better match than the common. MB