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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: yard_man who wrote (62205)1/26/2001 4:37:22 PM
From: Mark Adams  Read Replies (1) of 436258
 
Being confused, I have to start asking some fundamental questions.

LU traded 20 million shares, unchanged at 18. Why?

I can see buying or selling if the price had changed, yet it didn't. Did some sort of news convince holders of 20 million shares that they should move on, while convincing others that they should own it?

Or are the growth funds, licking their wounds from last years decimation of the stock decide they could afford to realize the loss, now that the year has changed, and offered it to their value fund brethern? Did the exchange of those 20 million shares create any economic value?

There certainly is a new industry springing up, or at least becoming apparent to this poor fool. They move the paper around, securitize it, perform swaps of credit risk and buy default insurance. Leveraging 1 million to control 100 million of credit/debt. Money is being made, but I don't think it's possible to 'follow the cash' any longer. Not enough transparency.
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