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To: willcousa who wrote (261)	4/18/2002 5:59:19 PM
From: Robert O	Read Replies (1) of 13403

ot The greatest prospectus I ever read was for a real estate limited partnership Arvida/JMB Partners, L.P.-II. IMO, it covered every contingency, a goliath at about 100 pages. Under 'potential conflicts of interest' it actually indicated there was a conflict of interest ex-ante but then seemed to assuage those fears but never controverted the initial claim. Conniving, contriving, a masterpiece of liability protection. The Partnership raised in the hundreds of millions of dollars and liquidated within 10 years returning to limited partners about 4% of their original investment. 96% lost for the dream of a development community that just never got out of the sewers. Only Merrill Lynch was sued for brokering some of the deal and they in a sense won as the 'settlement' was a pittance. The greatest prospectus I ever read...if you go in for that sort of thing ;-) RO Disclaimer: None of this post should be construed as anything more than a layman's opinion of publicly available information. I am not a lawyer, nor purport to be one. Suicide would be more respectable <gg>.

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