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To: Terry W Weaver who wrote (3954)	10/23/1997 3:16:00 PM
From: taxikid	Read Replies (1) \| Respond to of 11888

wjo did terry? only a few short sellers- the market makers took intense hits- options traders on the right side of the fence made a lot of money there is always more on the bull side then the bear side- guys like buffett that held ade a lot of money- guys that had the money to buy the extreme bottom and hold made money- market makers traders brokers and INDIVIDUAL investors GOT KILLED. taxi

To: Terry W Weaver who wrote (3954)	10/23/1997 3:18:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 11888

Terry, like now, it was "air money". They did not lose if they held on for 18 months, or bought back during the next six months after the crash. They lost if they sold at the bottom and stayed out. No one made that money until equities recovered (and how) over the next 10 years. By the way, a number of specialists and MM went under in this debacle, and it could have been worst if the post crash financial markets were not managed superbly by Greenspan and few other "big money" guys. Zeev