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To: IQBAL LATIF who wrote (15129)	11/25/1997 11:02:00 PM
From: Vol	Respond to of 50167

Iqbal, off topic: I somewhat agree with your view that we are prob seeing a bottom in the market and may see up from here. At least I hope so! I've been a lurker so far, and have an off-topic question. I read somewhere about a strategy of buying a stock after it was announced to be added to the S&P 500, then selling at the end of the day it is actually added to the index. I believe a finance prof at Duke wrote a paper on this and that back tested returns were around 60% annually. However I can't find anymore info about this on the net. Does you know more about this strategy and where I could find info on it? Thanks, Vol

To: IQBAL LATIF who wrote (15129)	11/26/1997 6:29:00 AM
From: Burjis S.	Respond to of 50167

IQ .... Please enlighten us as to what this means .... HONG KONG, Nov 26 (Reuters) - Credit Lyonnais Financial Products (Guernsey) Ltd on Wednesday said it issued 300 million American-style call warrants on the Dow Jones Industrial Average. Credit Lyonnais said the issue was the first Dow Jones call warrant listed in Hong Kong. 45,000 warrants control one index unit. Each index point represents US$1.00. EXERCISE PRICE US$7,808.95 ISSUE PRICE HK$0.2803* PREMIUM 10.9 PCT GEARING 4.8x EXPIRATION 18.SEP.98 ISSUE DATE 26.NOV.97 PAYDATE 10.DEC.97 BOARD LOT 10,000 LISTING HONG KONG LISTING DATE 12.DEC.97 SETTLEMENT CASH *US$=HK$7.7303 REFERENCE INDEX LEVEL 7,808.95 06:07 11-26-97 Best wishes Burjis