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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (26456)	3/7/1998 3:47:00 PM
From: Knighty Tin	Read Replies (2) \| Respond to of 132070

PK, Generally, when size is traded, it is a combo of one size having a block, and the other side being taken by other customers and any leftover being taken by the market maker. The MM can buy and hold, but, since all their money is borrowed and the clock is ticking, they usually don't. I once sold a 275,000 share block of AT&T and the other side was completely swallowed by another institution, with Morgan Stuckup doing nothing but making the introduction and collecting the commish. And, I've also sold half a million IBM and had the dealer eat the entire other side. It took them many days to work out of it. And every time I talked to them, they told me how much risk they took for us. For the next five years. <G> So, it can work both ways. MB