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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Roger A. Babb who wrote (6516)4/8/1998 2:00:00 AM
From: put2rich  Read Replies (1) of 18691
 
Roger,
I am dumbfounded w/ your words:
<<According to the recent CTXS proxy, it has about 42 million shares outstanding plus an obligation for 16 million options. Management gets options equal to 5% of outstanding stock each January 1st. And the proxy vote will increase authorized shares from the current 60 million to 150 million granting management the right to issue the additional 90 million shares for any purpose without further shareholder approval. This proxy came out yesterday and I promptly doubled up my short position.>>
Whose stockholders granted the management the right to screw themselves? Life is unfair enough for small investors against MMs and now those small longs get robbed big the second time. Luckily some have to learn shorting sometimes to make money. And if your understanding is correct and so simple then all should avoid CTXS like a plague? A history in point: IOM once hit 28 now 6+ and number of shares like 230M or something for a one product company. Well I guess this decade have made owners/exec. super rich while the rest hold the bags. Also during a hype a guy short IOM and covered at big loss the second day, just to see the next week it dropped like a rock.
I will short ctxs then.
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