Rambus (RMBS) - Eagle or Penguin Message Board

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Technology Stocks : Rambus (RMBS) - Eagle or Penguin

RMBS 104.35

-2.4%

10:26 AM EST

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To: KM who wrote (1021)	8/13/1997 12:07:00 AM
From: dougjn	of 93625

I believe, Truf, that isn't really true. May be transitional probs but don't think so. As I understand, short against box still works so long as 1) you unwind (repurchase short) by Jan 30 following year; and 2) don't short same stock for 60 days after unwind. Actually not unreasonable, ask me. Always nice to be left completely alone. But what WS was doing for some people -- say the major corp honco who has say 10 mill shares of whatever -- do a box short, and for a small fee each year, never unwind until death. When doesn't count. Meanwhile, take poceeds of the short and buy diversifed portfolio. Never pay taxes on the gain. Personally, I think no cap gains at all is a good thing, but this was an end run way of doing it for the sufficiently healed. It was starting to spread down to the merely rich....and Wash. got worried. Doug

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