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Pastimes : ASK Vendit Off Topic Questions

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To: Vendit™ who wrote ()	12/26/1999 3:26:00 PM
From: YlangYlangBreeze	Read Replies (2) of 19374

After reading how you, Vendit, started "one of the friendliest and most helpful threads on SI" I looked you up! I have been hitting the margin pretty heavily for a while, and while it has proved very lucrative, I guess last week I pushed the envelope a bit far. (I know, I know) My broker, Lehmann Bros, requires a minimum 50% equity on a concentrated position such as I hold in Qualcomm. As of Thursday's close, I am at 48%. Have you ever had a margin call? What are the dynamics of a margin maintenance call? Is it a closing price below the given percentage that triggers the call or any dip? I have three days to send my broker more cash or liquidate equities, right? Business days? What happens if my equity rises above the given percentage on a subsequent day? Do the three days start all over again if it goes back down? If I don't get them the $$ in time they can liquidate, will they automatically liquidate just enough or will sell enough to put me at say 55% equity? I hate to call and ask them, but I guess I will unless Q shows signs of recovery tomorrow. I'd like to know more about it before I do. YYB

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