This exploding convertable note rumour is just a load of bs. As I understand it, Morgan Stanley gets 10% of ABS providing the company's profits reach a certain level at a certain time. If that does not happen a partial refund is warrented. IMO its a good deal. I dont believe hedge funds are shorting abs at these levels. The drop in the sp on friday was due only to recent market volatility and presents a good buying opportunity.
ABS
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