sgoniforgot to mention, yes I am long TIMPB and short TIM; I...

sgoni
forgot to mention, yes I am long TIMPB and short TIM; I would like to do more but have baulked since TIM share price has dropped so far. My average short is 1.15. I actually started thinking about the trade when TIM was 1.25 but spent too much time analysing, getting money to CFD account etc etc I no am trying to day trade around, when TIMPB drops in price, top up etc, maybe sell TIM on rallies etc

I would appreciate your comments on MXUPA

Owned now by Brookfield Asset Management, Mutliplex Sites offer 39% per annum return to April 2010 (MXUPA=68). At this time, Brookfield will have three options (a) exchange for equity (not possible now as MXG is no longer listed (b) pay increased coupon (Step Up of 2%) or (c) pay out noteholders.

Given strong credit rating of Brookfield (S&P A-/BBB+), I think it is very likely if not certain option is for Brookfield to tap bank lines and pay out noteholders in 2010. 39% per annum return where most of this is a capital gain seems compelling, especially in this market where equity returns look dubious.