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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Katelew who wrote (15311)	2/27/1999 4:47:00 PM
From: genejockey	Read Replies (1) \| Respond to of 122087

Daisy, I think my problem is that I just finished reading "Liar's Poker" by Michael Lewis. The book left me thinking that everybody involved with financial institutions are sharks unless proven otherwise. This book is well known in business circles and was given to me by my brother who is a corporate lawyer dealing in Securitization? I don't have a great grasp on what he does, but I do know that he often rubs elbows with investment bankers and has been recruited by Investment banking firms (More $ possibility but much less security so he's staying on the law side). Anyways, the book is pretty funny in how it shows bond traders/sellers regularly screwing over their clients (I believe the term used in the book was "blowing up" a client)for the benefit of the firm... In fact, MM's messing around with the price of a stock seems IMO to be more noble than what Salomon Brother's bondspeople were up to in the 80's. Can MM's collude... I guess they still can and do but just not in an overt manner. I would believe that MM's on a certain stock would get to understand each other's movement very well over the years since they trade the same stock every day with each other. So maybe RAJA was making a concerted effort to run up OMGA on Friday.... maybe then LEHM noticed what RAJA was doing then decided to join him on Friday. I would imagine stuff like this happens all the time where 1 MM does something causing the stock to act in a certain way then other MM's see this and may join in. Anyway, it was kind of funny cause I got used to seeing RAJA on the bid Thursday and Friday, but he suddenly dropped off Friday afternoon only to be replaced by LEHM... and then it seemed as if LEHM was alternating with RAJA pushing up the bid. In #daytraders chat, I remember seeing someone post "who the hell is LEHM?" which was my thought exactly at the time. Cheers---- Not Howie