Re: [RT] bear market stats

["Norman Winski" <nwinski@xxxxxxxxxxxxxxx>]

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  To: <A title=realtraders@xxxxxxxxxxxxxxx 
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  Sent: Thursday, August 01, 2002 7:54 
  PM
  Subject: Re: [RT] bear market stats
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  If there is ALWAYS some one on the other side then yes it's simply a 
  trasfer of funds.But to get back to my Enron example, who was shorting 
  it on the way up? No one, the company was simply selling it. On the way down, 
  the exec's were selling and someone had to be buying.But for those who 
  were locked out from selling, their money evaporated.True?  

   
   
    Contrary to what Wall Street would like you to believe, it's all a 
  zero sum game just like futures. For every buyer there is a seller, for every 
  sell there must be a buyer.  The Enron employees bought their stock from 
  either the company or via the open market. If the company sold it to them, the 
  company benefited from this form of payment rather than paying cash. In the 
  ideal scenario, Enron would sell their stock, take the money and invest it in 
  income producing assets that would increase the wealth of the 
  shareholders.  In this case, the company took the money and squandered it 
  on bad business ventures and extravagant pay packages for the top brass. 
  In any case, it is all a zero sum game.  
   
  Cheers,Norman
   
   
   
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