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Strategies & Market Trends : Roger's 1998 Short Picks

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To: BDR who wrote (17860)3/24/1999 10:33:00 AM
From: Roger A. Babb  Read Replies (1) of 18691
 
Dale, this "urban legend" about the shrinking number of listed shares has been around for several years. Just ain't so. Just as a bit more DD, I assumed that if the total shares are shrinking, then there must be many companies with shrinking share totals. I limited my search to companies which are buying back their own shares, you would think those are the most likely to shrink. But even in that limited group the number of shares being created by management options exceeded the buy backs and the total for the group increased.

If you take into account the potential shares represented by un-exercised options and outstanding convertibles, the increase is even larger.
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