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Technology Stocks : Advanced Micro Devices - Moderated (AMD)
AMD 223.53+1.1%Jan 14 3:59 PM EST
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To: plantlife who wrote (215062)10/26/2006 1:08:10 PM
From: MagratheaRead Replies (5) of 275872
 
RE: Darkside.
It is a very well done flash presentation to deliver the message. A good use of flash except that it is not possible to skip forward. You have to take the whole 80 minutes to see the last slide.

A couple of key questions left unanswered.

1. Who is the author(s) of the presentation? Seems like a glaring omission to me.

2. Let's take it as fact that there are millions of FTD's (Failure to Deliver Stock sold short) lying about the market. His presentation says that the SEC won't disclose specifics of which companies, when, who, and how much.

Every year a publicly held company has a stockholder's meeting. They send Proxy statements to every listed shareholder (even if they have a "IOU" from the short seller). It would seem to me that at least once a year that every company would get some idea of how many FTD's in their stock are in circulation. Why would it not be in the company's interest to post the short position and known FTD's to instigate the short squeeze the SEC allegedly fears?

His presentation focuses on grandma. But institutions would be just as likely to hold these FTD's in their account. Where is the indignation of Fidelity and their ilk?

The use of "Toxic Waste" to describe the FTD's is apt.

Comparing FTD's to counterfitting is also apt.

Whether the SEC was set up to be feeble, it certainly is toothless today when a naked short seller can be a Moscow hedge fund.

20 years ago no one would have believed the NYSE could drop 25% in one day.

-Magrathea
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