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Gold/Mining/Energy : An open letter to jr. gold investers by Ron Pitts 03/27/97
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To: Stox who wrote (55)3/30/1997 10:40:00 AM
From: Aloysius Q. Finnegan   of 297
 
Eric,

Thanks for your detailed scenario of a margin call nightmare.

You note that you cannot use excess margin on the VSE or ASE. Are you saying that no stocks are marginable ... period ... on either of these exchanges? Also can US citizens buy TSE or MSE stocks on margin?

I read somewhere that 71% of the newly named ' X-bre' was held by institutions (I guess that includes all the CEOs who now conveniently live in the Cayman and Bahama Islands). None of these folks would be margined ... right?

So what about the other 29%? How many of these guys and gals were margined on what everyone was touting as an investment as good as a utility?

A real house of cards.

Thanks Again,
Patrick
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