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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: flickerful who wrote (30088)	10/3/1998 6:35:00 PM
From: Thomas C (Hijacked)	Respond to of 94695

Does anyone here know how many total public companies were traded in 1987 and how many total public companies are traded now, 1998? tc

To: flickerful who wrote (30088)	10/3/1998 6:42:00 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 94695

Speaking of leverage, The US Department of Justice and the Securities and Exchange Commission accused Steinhardt Management and Caxton Corporation of involvement in the same market rigging scandal that forced John Meriwether out of Salomon. The two hedge funds paid $70m in fines without admitting wrongdoing. At the time Steinhardt was short the stock market and insiders told me that the fund was making $60 million for every basis point difference in treasury spreads. Steinhardt mistake and maybe AG intentions, were that just before the interest rise in February 94 (I think) Steinhardt started to unwind his stock market positions (cover his shorts). He got just halfway in unwinding and the FED raised interest rates, the market droped substantially and Steinhardt funds lost a ton of money. So the $70 million was a drop in the bucket versus the actual loses. BWDIK Haim