wiz.
re: lonelyman, someone sent me that link a few months ago. i swear the shit is real, cuz back then that clown did have his 718 phone number posted up there.
he is smoove like buttah.
speaking of moronic maneuvers by guys with too much money on their hands, did any of you catch this colossal fat-finger blunder?
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Nextel Communications shares fell as much as 9 percent [yesterday] when market-maker M.H. Meyerson, intending to enter a sell order for 5,000 Nextel shares, added zeroes resulting in a 5 million-share sale. The incorrect information was sent to the Nasdaq Stock Market about 11:50 a.m.; Meyerson corrected the error in 17 seconds. Nextel rose $2.69, or 5.6 percent, to close at $51.06.
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and on that note, i've been trying to figure out how the rocket scientists over at ProFunds are losing money in their UltraShort OTC Fund. i purchased the UltraOTC early last year -- the "conservative" holding in my IRA -- and cannot complain with the returns. (if you're unfamiliar with the concept, the UltraOTC Fund attempts to mimic two times the Naz100 by employing futures [does not purchase the underlying securities in the index]; similarly, UltraShort OTC attempts to get two times the inverse of the index.) anyhoo, Bill Seale, a prof at GWU dreamed up this one, but has seriously taken it in the shorts this year. apparently, he times a futures contract about as well as NN works the lovely ladies at Puff Daddy's Palace.
UltraShort is down 49% ytd.
Notsosureacademiciansshouldberunningmutualfunds(someonepleasegivemeashot!)CM |
