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

To: peter n matzke who wrote (29322)	6/24/1998 2:39:00 PM
From: Knighty Tin	Respond to of 132070

Peter, let me preface this by saying that in all my years of mutual fund management, I have never seen anyone do any window dressing. And the business pages used to talk about it then. Maybe I worked at firms that were not idiots and everyone else was stupid. But there is absolutely no reason to perform the shenanigans that most folks assume are happening. For example, if my fund was down 10% while the market was up 10%, would the presence of the top performing stock in the last quarter on my portfolio list make you think that I did a good job? I hope not. <G> But, if it is happening in some galaxy far, far away, then the stock requires 3 business days to clear if it is done for normal settlement. That would make Thursday the last day. However, you should be aware that normal settlement only happens for retail customers and institutions who don't demand other settlement. You can always settle earlier or later if you agree upon it in advance. I don't know if the new generation of 12-year old fund managers are aware of these facts, but, if they are, they could actually trade on Monday and take delivery on Tuesday. MB