Clown-Free Zone... sorry, no clowns allowed Message Board

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

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From: ldo79	12/24/2007 5:45:52 PM
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MER Christmas gift to shareholders! Merrill Lynch gets a "$6.2 billion injection". Good, right? Uh, the price was $48/share. Anyone look at where Merrill was trading? $56. So let me see how this works - I give you $6.2 billion in exchange for stock at $48 a ticket, short against the box, pocket $8/share immediately and have all my money back. That is an instantaneous and risk free 16.6% return! "Investment" my ass! What if you're a Merrill shareholder? You just got diluted to the tune of $8/share for the guys who "gave" them the money; they took zero risk, you got buttfucked. Merry Grinchmas. Oh, and if you hold their stock here? You're a total idiot; this is yet another "Guido" deal and if you think the stock will hold at $56 you're betting against the guys who they "negotiated" with. What sort of stupid do you have to be in order to buy into this sort of trade on the long side? The market figured it out - a bit - later, with Merrill dropping a buck and change through the day. Give me a break; this is the stupidity of investors on display in spades! tinyurl.com

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