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To: BGR who wrote (89860)1/19/1999 10:16:00 AM
From: arthur pritchard  Read Replies (1) | Respond to of 176387
 
Apratim:<the "nature" of the investment> If you have time, would you repeat that question, but in a simpler way? I'm afraid I do not understand your question. Thank you.



To: BGR who wrote (89860)1/19/1999 11:59:00 AM
From: Chuzzlewit  Read Replies (1) | Respond to of 176387
 
Apartim, My reason is that LEAPS are derivatives (secondary securities) based on underlying securities (equities). They are wasting assets (that is, all other things being equal, their value decreases with time) with limited lifetimes. Assets like these cannot be held indefinitely because of those characteristics.

TTFN,
CTC


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