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Robert,
The real people who have to be watched about taking advantage of LTCMs
positions are the dealer/lenders. They now know the positions, have the
capital and the facilities to abuse the knowledge. They also feel cheated
and that they are "owed" something.
Motive and Opportunity.
Jim
-----Original Message-----
From: David L. Miller <dlmiller@xxxxxxxxxxxxx>
To: Omega-list <omega-list@xxxxxxxxxx>
Cc: Robert Bianchi <R.Bianchi@xxxxxxxxx>
Date: Tuesday, September 29, 1998 2:24 PM
Subject: Re: LTCM - The spread trade that blew up!
>Robert,
>
>What's to prevent the LTCM principles themselves from taking advantage
>of LTCM's situation? Given that Hedge Funds do not have to register
>with the SEC, I'm having a difficult time seeing where Controls of *any*
>kind come into play in situations such as this where the last one left
>holding the Bag ends up the Big Looser.
>
>Are we in for a Feeding Frenzy of the Second Kind...sharks eating
>sharks?
>
>Dave
>
>Robert wrote:
>> <snip>
>> The sharks will be circling.
>
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