shorting stock before September 11

hari · November 2nd, 2001, 10:04 pm

This is worth a laugh ...I was recently chatting with a well-known convertible bond arb manager who laughed when I told him about dubious short selling before the terrorist attacks. Apparently a large convertible issue came out in the first week of September and the guys were simply delta hedging the position.Another episode of media frenzy in advance of the facts.

Max · November 2nd, 2001, 10:22 pm

That might have been Brinker International (EAT US), which owns restaraunt franchises like Chili's. They were ready to go that Tuesday, then ... they did the deal Oct. 8