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To: S. maltophilia who wrote (36470)	2/1/1999 7:23:00 PM
From: marc chatman	Read Replies (2) \| Respond to of 95453

Sounds like it could be the one. I found a site which lists the top 10 holdings of those funds. findafund.com They included ESV, SLB and GLM among the OS companies. They also had big positions in APA and BR. I don't know the date of those holdings.

To: S. maltophilia who wrote (36470)	2/1/1999 10:46:00 PM
From: Alias Shrugged	Respond to of 95453

I also heard the Merrill issue discussed on CNBC. It was one of their growth funds being restructured. Merrill is facing the same issues that Fidelity faced last year, i.e., lousy performance. There was a big write-up in Business Week within the past 4 months on Fidelity, how they restructured themselves, and are now doing so much better. Basically, they turned into full-blown indexers. Anybody who has tried to be a patient value investor has gotten reamed, while all available investment dollars have been sucked up by MSFT, INTC, DELL, CSCO, LU, WCOM etc. Last week in the WSJ, story on Merrill's lousy performance and how they canned a bunch of people in charge. So now we see the new guy coming in and, hey, can't have any OSX stocks in a "Growth" fund - we need to buy more DELL, MSFT, ETC. ETC. Today's action didn't look great, but considering Merrill's dumping and the pre-API sell-off action, couda been worse. Question for Slider and the rest of you bright folks: PKD has convertible bonds. Pays a 5.5% coupon, due 2004, convertable at $16 or $17 (approx from memory). Currently priced at $62. So, One could buy for $62, receive $5.5 interest until 2004 (that's almost 9% per year), and then receive $100 at maturity. Only one little problem (as you guys are aware): PKD could go under! How likely is it that PKD could go under? Oh, the $16 or $17 stock price for PKD seems unattainable, but could be viewed as a free, long term FAR out of the money call option. Thanks Mike