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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks

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To: Bat Man who wrote (839)	3/27/2001 11:38:00 AM
From: stan_hughes	Read Replies (3) of 11633

About the NCE issue - Wow, what a coincidence, the list of agents for the offering is the same list of Canadian brokers who have been doing all the selling in the past few days on the TSE. Must be nice to know the price of an offering well in advance when you also feel no moral business obligation to your client - that way, you can feel free to whack an issue as much as you want, and then just use your agency status to ensure you can subscribe for enough units to cover your short. And as an added bonus, you also get to fee the client for having "distributed" their issue, when all you've really accomplished by your actions is to lower the prevailing market price of your client's units. And people wonder why Americans think the Canadian markets are still rigged in the third world style. You might expect this kind of stuff from a Vancouver listing, but pulling it on the TSE makes the whole industry look bad. IMO the Canadian securities authorities need to improve the rules on disclosure, but I won't be holding my breath waiting to see it happen. Please, no flaming from the Canadians - I'm just tired of getting hosed.

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