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Technology Stocks : Neomagic Corp. (NMGC)

NMGC 0.00750

+2.7%

Dec 8 3:57 PM EST

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To: CMon who wrote (2572)	2/19/1999 10:59:00 AM
From: Eddie Kim	of 3645

Cmon, Believe what you want. But like I said before, I talked to my friend who is MM and he's said its a sleazy, unethical business...BUT legal... although he stressed that the sleaziness is done only on "rare" occasions. The major difference between us and them is that they have an almost unlimted supply of $$. He was telling me some of the tricks they use when they want to make money. He told me some tricks investors could use on MM's, but said if they catch you they'll yank your account. Yes! Yank you're account...no matter who you trade with. The best story was the one he told me about a huge client buying some stock. The stock tanked. Next morning, the huge client denied he ever bought. Everyone knew this was total BS, but the MM had to eat a $300,000 loss because the firm did not want to lose the client. And it was the MM who lost the money...not the firm. In the MM business, its every trader for himself. He makes a cut from the profits and has to pay a cut if he loses money. They're not rocket scientists. Now Morgan Stanley is different from MMs, but I'm sure the business is just as sleazy...

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