Zeev's Turnips Patch-No Politics (ZEEV)

[tipit11]

Zeev, I hope everyone here on the thread paid attention to this post I am answering. I want to share with the thread something I did after reading it and also post #MSG-493926 thanks to Culmus, which is the SEC filing which describes the conversion and call provisions of the notes. I called my broker and purchased the SKX convertible subordinated notes @4 1/2% due 4/15/07. The broker bundled them into a package including commission, for $750 per note, a 25% discount, just like you predicted. They needed time to get them on the open market, so by calling early in the morning, I was filled by the end of the day. I won't go into explaining how all this works, since Zeev has done a good job explaining it already. I don't know how others brokers work, but I could not get a bid/ask only one price that included commission. As I wait for SKX to go up into the 20's, I will be paid 6% on my money. Once SKX reaches the conversion price somewhere around $25, I will sell short against the notes.
The idea of "infinite return", (in this case 5 years), is a great tool for the longer term, and thanks to Zeev doing all the work of finding these notes and explaining how they work, I now have a plan to follow for some extra income. Zeev is amazing with his great source of knowledge. I never tire of reading his posts and learning from him. We should all be so very grateful for someone that will share his knowledge with us.
Thank you Zeev!