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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: John Madarasz who wrote (19717)	2/17/2000 11:51:00 AM
From: ahhaha	Read Replies (1) \| Respond to of 29970

Ney was the quintessence of 1st class sucker. He blamed the "wolves in sheep's clothing" for his losses and went to great effort to prove that the specialist was up to an endless variety of manipulative tricks. He used his acting fortune to employ lawyers in order to force an investigation of specialist activities. This was done but no evidence of any wrong doing ever surfaced. Ney claimed that the SEC was in cahoots with the "shysters" on the floor. The basis of Ney's argument was that the specialist should go in and support the market when the public panics. This means the specialist should bail out the public from loss. That has nothing to do with the only function of these market makers. To make a market only means to fill in the accidental holes that occur because the order flow isn't perfectly continuous. It doesn't mean that that the hole should be infinite in support. Why should the market maker seek loss and from where will the funding of such an effort come? Ney wrote a book about all this and the flawed assumption is the above. He got notoriety from his acting career and then got notoriety because he bought time on FNN in the early '80s in order to use public ignorance to feed his money management business. He was the shyster. He was the con artist that he accused the specialist of being. He represents what the stock market does to the public when the public uses it as a public gambling joint. These types can't be trusted in the slightest. So it isn't hard to see how they can't trust anyone.