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Pipe Dream or Problem? (StarBanner)
The (Ocala) Star Banner is running a
New York Times article on the hazards of PIPE investments.
"Mr. Goldfarb's fund, BayStar, invested last October in a private
placement of convertible preferred stock in the SCO Group, a technology
company. A few months later, BayStar demanded its money back in a dispute
over how SCO's management was handling litigation related to its interest
in the Unix operating system. SCO's stock has fallen 75 percent since
BayStar's investment, although Mr. Goldfarb said his loss was much
smaller. 'This is a lesson in why a smart investor would hedge their Pipe
investment,' he said." There has been a lot of speculation that
BayStar had hedged its SCO position (and thus not lost all the money it
appears to have lost); this quote would appear to confirm it.
(Log in to post comments)
Pipe Dream or Problem? (StarBanner) Posted Jun 7, 2004 15:51 UTC (Mon) by mmarq (guest, #2332) [Link] Here is a enlighted view of the Establishment...of which Baystar and SCO,seems to me, are only expendable peons in the war for controlling the IT world, the "next generation" media outlet:http://www.skolnicksreport.com/straps1.html The biggest problem with Mr. Skolnicks "views" is not the argressive language but the inherent logic that points that he might very well "be right". And if history repeats itself for those that dont learn from the mystakes of the pass, then, like in the Great Depression, we can expect a much worst financial clima in the years ahead...
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