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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (23471)	10/12/1997 2:28:00 AM
From: Michael C Quesnel	of 132070

MB, "I got real lucky on that rights offering. I did a paired trade of long GHS and short HQH and HQL that worked like a charm. For some reason, the H&Q funds did not decline as soon as the rights were announced. Then they got creamed. That gave me a chance to wheel a deal." Unfortunately for me, I was very unlucky on that same offering. I was out of town traveling for the months of December through February, and was unable to monitor the market as closely as I do while I am at home. By the time I heard about HQH's offering, I had already been massacred. I had bought heavily into HQH during the summer 1996 slump, and was sitting on some nice profits which were vaporized by that stupid offering. Still angry about it. What can an investor do when he knows that he will not be able to closely monitor the market? It seems to be wasteful to close out positions that you want to hold. Mike

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