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IDS World Markets Fri 19th September 08


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Is that safe? Will you be able to get your money back if it gets locked up in some way?

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I would be real careful about that, at least until this shortban is over, but everybody now knows they will put it on when ever the market starts to sink. :ph34r:

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Here's a thought. A friend just emailed me to ask whether I thought his bond fund was safe. I told him to read the prospectus.

 

But it raises the broader question. 

 

If the government does insure money market funds for a year, and if one is interested in incremental security, shouldn't one move out of bond funds and into money market funds?

 

Perverse the unintended consequence and incentives created by impetuous government decisions.

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C'mon. A $50 billion fund to insure the MMFs is pointless. There are trillions of losses buried in those things. Don't get suckered.

 

Anyone know if there are deadline to close all those shorts?

I hope it's not as of close today because we might see the mother of all MOONSHOTS into the close.

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No way in hell that they'd require all shorts to be closed. It would be impossible. The ban is on short selling, not short positions. In a few days, dey gonna be a good thing ta have!

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This is confusing...

Are you sure?  Anyone know where i can find the source of this news?

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The Securities and Exchange Commission, acting in concert with the U.K. Financial Services Authority, took temporary emergency action to prohibit short selling in financial companies to protect the integrity and quality of the securities market and strengthen investor confidence. The U.K. FSA took similar action yesterday.

Additional Materials

 

* SEC Order Halting Short Selling in Financial Stocks

* SEC Order Requiring Institutional Money Managers to Report New Short Sales

* SEC Order Easing Restrictions on Issuers to Re-Purchase Their Securities

* Form SH

* Form SH Instructions

 

The Commission?s action will apply to the securities of 799 financial companies. The action is immediately effective.

 

http://sec.gov/news/press/2008/2008-211.htm

 

It does not require that short positions be closed. That would be impossible and probably illegal.

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Check the move on this one. Almost a 100% move in two days.:ph34r:

 

ISHARES DJ US RBIF (PCX:IAT) Delayed quote data

 

Last Trade: 38.22

Trade Time: 2:55PM EST

Change: 1.89 (5.20%)

Prev Close: 36.33

Open: 56.33

Bid: 38.19 x 1000

Ask: 38.26 x 1100

NAV?: 32.07

 

?As of 17-Sep-08

Day's Range: 35.61 - 56.33

52wk Range: 21.43 - 48.35

Volume: 1,157,062

Avg Vol (3m): 346,235

YTD Return (Mkt)?: -27.81%

Net Assets?: 148.30M

P/E (ttm)?: 13.54

Yield (ttm)?: 4.31%

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