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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: Mama Bear who wrote (37863)6/6/1999 12:24:00 PM
From: Colin Cody  Read Replies (1) of 122087
 
Barb, As it happens I exited NPEC with 300% more than I put in. That's an example of why I don't care for shorting as y'all here do. With shorting, under the best of conditions, all you can ever hope for is 100% on your money. Whereas with the long side 150% 300% even 1,000% is possible if one expends the same level of DD as I see you short's do here (and admirably so!)

I disagree with you on the margin though. When an investor takes down a loan and makes a financial commitment that should, IMO, stay put. I believe it is unfair to retroactively change the rules, maybe change the rules with say 6 months notice is fine, but not retroactively.

I believe it is illegal to not make truthful disclosures (regarding the margin changes) to investors voluntarily, and especially so when asked directly by a knowledgeable investor.

I believe it is deceptive to give out "buying power" figures and not disclose that the house will immediately call you if you spend that buying power.

I believe that the trading practices of some firms are in violation of NASD rules regarding the computation and disclosure of said "buying power."

And, no I'm not a lawyer, but I may be a lead plaintiff in a CA when some enterprising law firm wants to make a go of it.

You know, this post makes me sound like some sort of a sue 'em ambulance chaser (g) believe it or not I think we have far too many lawyers here in America and we are too "sue happy"

Nice chatting with you! Colin
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