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To: Marshall who wrote (28225)	3/3/1998 9:09:00 AM
From: drakes353	Respond to of 33268

Marshall: Our discussion of this theory never had any set percentage of an issue as being hedged. Coulda sworn you were saying something a while back about "most of it" being hedged. My point is that there is no reason to take the risk that "hedging" would entail when they can make juicy risk free returns by shorting the stock 10% above the 3 day low close bid. drakes353