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I did some training for a group of their analysts a couple of years back
and I was very impressed with their level of knowledge. I also had
the general impression that they maintained a very high level of business
ethics.
<P>S&P 500 wrote:
<BLOCKQUOTE TYPE=CITE> <FONT FACE="Comic Sans MS"><FONT COLOR="#000000"><FONT SIZE=-1>Has
anyone on RealTraders ever subscribed or have copies of anything from Ned
Davis Research???</FONT></FONT></FONT> <FONT FACE="Comic Sans MS"><FONT COLOR="#000000"><FONT SIZE=-1>Any
help would be great.</FONT></FONT></FONT> <FONT FACE="Comic Sans MS"><FONT COLOR="#000000"><FONT SIZE=-1>Rob</FONT></FONT></FONT></BLOCKQUOTE>
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</x-html>From ???@??? Mon Mar 01 19:59:58 1999
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Date: Mon, 01 Mar 1999 16:04:39 -0800
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From: Ira <ist@xxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: beans, etc.
References: <009e01be6422$8d93ec60$d6b851d1@xxxxxxxx>
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The simple reason is that futures are created and the ones that create them are
the members of the exchange, the floor traders. Now if you were a member and
short 1000's of silver contracts at between 10 and 40 and silver is trading at
50+ and everyone is still buying. What do you do if you run the exchange? You
say Ha, Ha, I just changed the rules, I don't have to go out and buy the silver
at 50 because I don't have to deliver it and the only place you can go to sell
your futures is to the exchange and here I am waiting. By the way, you have to
sell them at what I am willing to pay. Ira
Dennis Conn wrote:
> OK, let's try this again; I suppose it would have been better to ask why in
> hell is the government paying farmers for any reason - futures exist so
> producers and buyers can hedge, locking in a price that's favorable or at
> least tends toward eliminating loss. If beans are already too low to do
> better than break even, don't grow beans! Maybe if the government wasn't
> involved in guaranteeing a no-loss situation, there wouldn't be extreme
> surpluses as often as we're seeing. Maybe the government should have done
> the same thing for buggy producers when it became apparent that automobiles
> would replace them - or perhaps they realized that at some point there
> wouldn't be enough storage space for all the buggies. Hey, I know! We could
> have paid the buggy producers to not make buggies! There's an idea! Why
> don't they try it with farmers? What, they have?!! What a country!
> As far as Ira's comment about the exchanges forcing liquidation of contracts
> because of some ridiculous excuse such as there are more contracts than
> there are beans, I don't get it. Why would the exchanges care? There's a
> buyer and a seller - that's all that matters, or there's no contract issued.
> I can't see any benefit to an exchange to call in the contracts and prevent
> trading - if I ran an exchange and the shorts and longs balance every day,
> hooray for me! Let's do some more!
>
> Dennis C.
>
> -----Original Message-----
> From: TheGonch <Daniel.Goncharoff@xxxxxxxxxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Monday, March 01, 1999 15:09
> Subject: Re: beans, etc.
>
> >What does hedging have to do with subsidies? If you hedge at a price
> >which is 'break even', it's still only break even.
> >
> >Dennis Conn wrote:
> >>
> >> Ira wrote:
> >>
> >> Your buying them with your tax dollars. Ira.
> >>
> >> Oh, well then, I feel so much better knowing that! But now I have
> >> another question: why don't farmers use the futures markets to hedge
> >> instead of expecting government subsidies? Isn't that why the futures
> >> markets were created in the first place?
> >> dconn@xxxxxxxxx
> >>
> >>
> >>
> >> Dennis Conn wrote:
> >>
> >> With the current thread on why farmers continue
> >> to grow beans instead of corn, two questions come
> >> to mind:1)if more soybeans are grown year after
> >> year only to be put into storage, how will farmers
> >> hope to break even (the price of beans can only go
> >> down, unless someone comes up with another use for
> >> them)?2) whatever happened to the concept of crop
> >> rotation? Dennis C.
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