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Technology Stocks : Dell Technologies Inc.

DELL 138.80

-2.7%

Nov 11 3:59 PM EST

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To: Geoff Nunn who wrote (84534)	12/10/1998 7:21:00 AM
From: nihil	Read Replies (2) of 176387

RE: Speculators drive up rices The only trouble is the profitable speculation proviso. Friedman removed most of the real world cases. Every study of commodity futures speculators I have seen indicates that most futures customers lose money. Hedgers, of course, are not speculators and may make money, but perhaps they rarely show up in the accounts of failed brokerage houses which provide many of these studies. The next thing we'll here is another Friedman position -- that speculators do not drive down prices of currencies -- i.e. that speculation is stabilizing in foreign exchange markets.

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