Biotech Valuation Message Board

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Biotech / Medical : Biotech Valuation

CRSP 53.47

+0.3%

Nov 28 9:30 AM EST

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To: Biomaven who started this subject	3/22/2002 9:55:38 AM
From: IRWIN JAMES FRANKEL	Read Replies (1) of 52153

Yesterday I was with some friends that are professional traders. Some of them tend to be heavy shorters and others try to keep a portfolio that is part long and part short. Those who do a lot of shorting use Preferred Trade. They use PT because they get paid interest on the proceeds of short sales. I have long heard that hedge funds were able to do this but did not know that there was a broker that afforded this advantage to individual traders. These guys reported that Thursday morning PT was telling them to stop requesting the availability of shares to short. Apparently the demand for loanable shares exceeded the ability of PT to deliver them. ij

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