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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Don Lloyd who wrote (72181)2/26/2001 11:48:13 PM
From: Tim McCormick  Read Replies (1) of 436258
 
Your icing and cake simile is distorted though. The total reallocation of risk function is a small fraction of total volume. And, the efficiencies derived from this distribution are dwarfed by the de facto criminal phenomenon of Robbie Stephens reiterating a strong buy on ICGE or Goldman reiterating a strong buy on ETYS, or CSFB bringing a secondary on EFNT all at prices of many times where they all are trading just one year later. All these timed to fleece the public to the benefit of insiders.
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