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To: Frederick Smart who wrote (28132)9/15/1999 12:07:00 PM
From: waldemar cyranski  Respond to of 42771
 
FS, thank god your on "our" side! Thanks for all the hard work!



To: Frederick Smart who wrote (28132)9/15/1999 7:02:00 PM
From: Pruguy  Read Replies (1) | Respond to of 42771
 
FS,

I tremble to disagree with you because you are so well thought out and versed...however...you say,


I believe Goldman is the prime beneficiary of this strategy - allowing them to earn a 100-200 basis points above the Fed Funds rates on a growing hoard of cash.

Do you really think that Goldman or its investors are shooting for a cpl. hundred basis pts over fed funds on invested capitol...That would be unacceptable to most Goldman investors and a strategy I find difficult to swallow that they employ



To: Frederick Smart who wrote (28132)9/17/1999 1:14:00 AM
From: Jack Whitley  Read Replies (1) | Respond to of 42771
 
<<Exposing this game could force professional market participants to unwind their long positions prematurely as their is an undisclosed risk that a potential SEC investigation of Microsoft will force them to pull back from the table, thus removing the fuel which drives this "game". In effect, they may not be able to meet their put selling obligations.>>

Another excellent post. Thanks

jww