HDTenEightyP/NetNews huggingface dataset:
From: ask@cbnews.cb.att.com (Arthur S. Kamlet)
Subject: Re: Buying options - what's the price?
Organization: AT&T Bell Laboratories,  Columbus, Ohio
Distribution: usa
Date: Sat, 26 Sep 1992 20:11:10 GMT

In article <1992Sep26.052457.23365@cs.umb.edu> sasha@ra.cs.umb.edu (Alexander Chislenko) writes:
>				< confused >	Alex.


The price to buy an option can be found in the financial pages of
the Wall Street Journal, Barrons, etc.  It is called a premium.

For example, an IBM November 90 call option might have a premium of
$1.00.

You usually buy a call for 100 shares of IBM stock. So the total
premium you would pay is 100 x $1.00 = $100.   And the broker then
adds his commissions and other fees to what you have to pay.

Most broker commissions charge  a lot for the first option, and less
for additional option transactions made at the same time.  If the
commission if $10 for one call, it could be $15 for 2 calls, $19 for
3 calls,  and $1.50 for each additional call.  Other brokers will
have other commissions.

The settlement date for options is 1 business day, not 5 business
days which applies to stocks.  So if you're going to buy options,
you really need cash in your account when you put in your order.

Writing (selling) options works much the same way.  If you wrote one
IBM Nov 90 call, you would receive $100 Less brokers commissions.
You would get the money the next business day.

Brokers will ordinarily require that you write a covered call
option, where you own the 100 sh IBM, or else require you to be
constructively covered:  You must have sufficient cash and/or stock
in your account to cover you if your call is exercised.

If you do not own the stock but write the call option, you write a
"naked" option.  If the option is exercised (the owner of the option
decides that you must sell him 100 shares of IBM @ $100) your broker
will use the cash in your account to purchase 100 shares at market
price (and charge you a commission) and imediately sell it to the
option exerciser at $100 (and charge you commission for that
transaction.)

If you hold the short call naked,  and do not have sufficient cash
in your account to buy 100 sh of IBM, your broker will probably sell
some of your stock (and charge commission) the buy 100 sh of IBM
then sell it!

If your broker somehow allowed you to get naked without sufficient
coverage he may elect to lend you the money at his interest rates.
But most brokers won't allow you to get to that position.
-- 
Art Kamlet  a_s_kamlet@att.com  AT&T Bell Laboratories, Columbus
Newsgroups: misc.invest
Subject: Re: M&M
From: gary@cdthq.UUCP (Gary Heston)
Date: Fri, 25 Sep 92 19:58:20 CDT
Organization: Garys' Home for Obsolete Computers

yip@pangea.Stanford.EDU (Kee Luen Yip) writes:

> What is trade symbol for M&M chacolate?

I believe M&M candy is made by Mars, a closely-held company.

I.e., it's not traded.

Gary Heston, at home....
gary@cdthq.uucp
Newsgroups: misc.invest
From: dan@writer.yorku.ca (Dan O'Connell)
Subject: Short selling
Originator: dan@grant
Organization: Computer Assisted Writing Centre, York University, Toronto, Canada
Date: Tue, 29 Sep 1992 18:25:39 GMT



>buy programs are not permitted.  Your individual stock, of course, can go
>through the floor [or, more happily, ceiling] without restraint. DMcKenzie
              
 Just thought I should point out that if you are short, you won't be too
happy to see your stock go up.
From: mcaldon@igc.apc.org (McAldon International Inc.)
Newsgroups: misc.invest
Subject: Re: Motorola?
Date: 2 Oct 92 03:28:00 GMT
Nf-ID: #R:1992Oct1.185700.24891@pslu1.psl.:37678836:cdp:1426500273:000:356
Nf-From: cdp.UUCP!mcaldon    Oct  1 20:28:00 1992


|What do people think about the long term financial prospects of  
|Motorola?
|br

For what it's worth, IMHO Motorola could be THE growth stock of the
next 20 years. I'm waiting for a down market to buy.  DMcKenzie

|    mcaldon@igc.org     | Opinions dispensed herein not guaranteed |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Newsgroups: misc.invest
From: dnmiller@magnus.acs.ohio-state.edu (David Neal Miller)
Subject: Managing Your Money (Mac) for Sale
Organization: The Ohio State University
Date: Wed, 30 Sep 1992 09:44:06 GMT

Andrew Tobias' Managing Your Money for the Macintosh
version 5.0 for 1993

- The latest version of the money management application given a five-mouse 
rating in the Sept. 91 issue of MacUser;
- Pays bills, tracks expenses and net worth (including inventory of 
possessions); writes and prints checks; organizes tax records; manages 
investments; tracks budgets;
- Assists financial planning decisions with an array of calculators (IRA, 
insurance, loans, etc.);
- Includes CheckFree electronic check-paying

I prefer version 5.0 for the Mac to version 8.0 for IBM compatibles, which I've 
been using for a long time. Unfortunately, data does not transfer gracefully 
between the Mac and IBM versions of MYM, and I've got *years* of data in MYM/IBM
 format. So it's s-l-o-w IBM emulation for me.

For sale new, with the registration card still blank. Advertised by 
MacConnection (Macworld, Sept. 92) for $49 plus s/h, Mac's Place (catalogue, 
just arrived) for $45 plus s/h. Yours for a nonnegotiable $30, including 
postage.

David Neal Miller
miller.3@osu.edu
(614) 267-2778

-- 
David Neal Miller

Internet: miller.3@osu.edu
Bitnet:   miller.3@ohstmail
Newsgroups: misc.invest
From: jgarland@kean.ucs.mun.ca
Subject: Re:  Effects of the U.S. Debt (Inheritance)
Organization: Memorial University. St.John's Nfld, Canada
Date: Mon, 5 Oct 1992 12:30:46 GMT

In article <1992Oct4.154044.18764@scott.skidmore.edu>, pvonk@scott.skidmore.edu (Pierre VonKaenel) writes:
> In article <1992Oct2.052830.3539@cs.sfu.ca> mcdonald@cs.sfu.ca (Ken Mcdonald) writes:
>>
>>
>>Personally, I favour a really agressive inheritance tax.  The first
>>$200,000 tax-free, the next $300,000 taxed at 20%, the next $500,000
etc... 

> There are people with lots of money "on paper" who are actually poor!
> Take the family farm.  A farmer may be sitting on $600,000 worth of
> land, but his income is relatively poor (farm returns, in grain
> farming, are about 2-4% - we won't talk about the chances of a crop
> kill).  If the kids want to continue after the old man passes away, a
> tax could wipe them out - forcing them to sell part of the land, and
> what's left isn't worth the farming expenses.  As long as the land is
> kept, they aren't "rich".  It only looks that way on paper.
etc...
> 
> Reality can be harsh!  Dreams are nice to have :-)
> 
  The 'reality' is that the present laws, in part, have contributed to the
inflation of items like family farms/city houses/family cottages etc.
If heirs were required to purchase such assets, I think you'd find 
immediately that these items would acquire a new and very much reduced 
valuation.

This has nothing to do with liberal/conservative.  It is simply a 
reflection of whether society values work/achievement of ancestors or 
people in the present.

On the other hand...

WRT the need for confiscatory inheritance taxes, though, the reality is 
that since primogeniture in no longer popular, there is little reason to 
worry...in 2-3 generations the wealth is, in practice, diluted.  Witness 
the report that at a recent Vanderbilt family picnic (reported in newsweek, I 
think, a while back) there was not 1 millionaire left in the clan.  And 
note that the French after the Revolution effectively broke up the 
aristocratic estates through the same means (i.e., by outlawing primogeniture
in wills).

The theory that family wealth will increase faster than the economy also 
takes a beating when one watches the follies of the Hunt and Getty heirs to 
name two rather egregious examples of the thoery's failure.

The point is that the question has a lot of sides.  High 'death duties' (as 
they say in England) have ramifications, some positive some negative, and 
so do low ones.  

John Garland
jgarland@kean.ucs.mun.ca
Newsgroups: misc.invest
From: cjb3701@ritvax.isc.rit.edu (Chris Bigenwald)
Subject: electronic stock purchases
Reply-To: cjb3701@ritvax.isc.rit.edu
Organization: Rochester Institute of Technology
Date: Sun, 27 Sep 1992 01:28:55 GMT

I am wondering (again) if the "on-line" trading services, several of which
are on CompuServe, are a good way to purchase stocks (ie. cheaper than a
regular broker)?
From: coop@sybase.com (John Cooper)
Newsgroups: misc.invest
Subject: Re: Are we nearing another stock market crash?
Date: 30 Sep 92 15:09:07 GMT
Organization: Sybase, Inc.

In article <9209261652.AA08175@inet-gw-1.pa.dec.com> GCTHORNE@idbsu.idbsu.edu (Broward Horne) writes:
>        The market CAN'T crash anymore.  It can only drop 50 points per
>        day.  At that rate, you won't be back to 1991 levels for over
>        a week.  Plenty of bail time.


Is the above really true?  I thought that all that had been changed since 1987
was that computer programs had stopped being set up to trigger a greater loss
in one day.  What's to prevent plain ordinary human selling in the market from
causing a drop of more than 50 points?  Closing the market at the minus 50
point mark?  Wouldn't the credibility of the NYSE be very suspect if five
days in a row it closed early?

--
John Cooper                               | My opinions, may not be employer's.
Sybase, Inc.                              |
                                          | "If you don't like the news go out
sybase!coop@sun.com                       | and make some of your own."
Newsgroups: misc.invest
From: "Mansoor Ahmed" <mansoor@orion.ssdc.honeywell.com>
Subject: Uptick......
To: misc.invest
Posted-Date: Fri, 2 Oct 92 12: 46:57 CDT
Organization: Honeywell Systems & Research Center
Date: Fri, 2 Oct 1992 17:46:57 GMT
Received-Date: Fri, 2 Oct 92 12: 46:05 CDT


Could someone explain the uptick rule on the NYSE to me please.

-mansoor
From: gadi@cs.uiuc.edu (Gadi Friedman)
Newsgroups: misc.invest
Subject: Personal Computer trading.
Date: 29 Sep 92 17:24:03 GMT
Article-I.D.: m.1992Sep29.172403.30882
Reply-To: gadi@cs.uiuc.edu
Organization: University of Illinois, Dept. of Comp. Sci., Urbana, IL

Does anyone have experience with stock trading using a PC?
What system do you use, and what hardware does it require?
How do the rates compare with that of discount brokerages?
How flexible are the systems?  
  Can I buy 1 share?
  Can I put a stop loss order?, 
  Can I register the securities under my name? 
  If I have the certificates at home, can I sell them via the computer?
Can I trade options? futures?

Is there anything I should know about these systems??

Gadi
 
Newsgroups: misc.invest
From: yhari@mosaic.uncc.edu (Yog Hari)
Subject: Re: The Advice of "Experts", and How to Interp
Reply-To: yhari@mosaic.uncc.edu
Organization: University of NC at Charlotte
Date: Sun, 27 Sep 1992 21:47:30 GMT

In article 19vq6aINN8cd@agate.berkeley.edu, markh@sag4.ssl.berkeley.edu (Mark Hurwitz) writes:

>portion ommitted

>CONCLUSION.  The "experts" are 0 for 1 in my book.  I'm 0 for 1 at
>picking a stock based on the combination of my gut feeling plus the
>advice of knowledgeable people (e.g. doctors who use the products).
>
Your conclusion is premature...  Do some financial research on the stock
and the company.  What is the P/E, Book Value, Cash Flow, Have earnings increased
over a while or decreased?
Then Make a decision whether or not to buy the stock.

>THE QUESTION.  Various news mags (Money, etc.) recommend new "hot picks" 
>all the time.  Do ANY of them pan out?  How do I, a small investor,
>make any money, given that a significant number of expert-recommended
>stocks will result in a 20% loss?   Is there some way to separate
>the wheat from the chaff?
>
I am in the process of reading Peter Lynch's book "One Up on Wall Street", besides
from being a very hip book (i.e. fun reading), it gives solid advice on how to
pick stocks.  His major point in the book is that the small investor has just as
much chance if not a better chance at picking stocks than professionals.  Read
the book, it will be a $12 investment worth a million, well maybe.

Yog Hari		yhari@mosaic.uncc.edu		fax 704 553 8795




Newsgroups: misc.invest,misc.taxes
From: ask@cbnews.cb.att.com (Arthur S. Kamlet)
Subject: Re: FAQ -- Wash Sale Rule
Organization: AT&T Bell Laboratories,  Columbus, Ohio
Distribution: usa
Date: Tue, 6 Oct 1992 19:05:02 GMT

In article <1992Oct6.165018.11867@unocal.com> stgprao@st.unocal.COM (Richard Ottolini) writes:
>I think this was perhaps to avoid dividend plays- sell just before a dividend
>and rebuy the lower price soon after.  More applicable to mutual funds than
>straight stocks.  Mutual funds lower their price by the dividend declared.

How does a "dividend play" help me?

So I decide to give up the dividend -  a sure thing --  and
then I hope I can repurchase before it goes up too much??

If I understand this, I would be giving up a dividend and getting
back a capital loss (if I could get a capital loss)

Sounds like odd behavior.   Even if I could get the loss, it's in
exchange for giving up dividend income.  I'm having trouble
understanding the game you suggest playing.
-- 
Art Kamlet  a_s_kamlet@att.com  AT&T Bell Laboratories, Columbus
From: bakken@cs.arizona.edu (Dave Bakken)
Newsgroups: misc.invest
Subject: Re: The end of media generated recession is close.
Date: 5 Oct 92 21:04:43 GMT
Organization: U of Arizona CS Dept, Tucson

In article <1992Oct5.025710.21270@adobe.com> kendall@adobe.com (Janice Kendall) writes:

>   *Is* Reagan responsible for the economic policy which drowned
>   us in debt, or was it the democratic congress?  I've heard it
>   was Reagan who pushed for tax credits to businesses for debt.

I think that Americans have been going deeper in debt since way
before the 1980s.  If you look back in the 1950s and 1960s
people didn't take out long mortgages nearly as much, they
didn't buy major appliances on credit nearly as much, etc.
But then this gradually increased; it would be fascinating
to see the curve, but I suspect it grew a lot in the last
half of the 1960s.  Part of it may be the fact that we
seem to be impatient and need instant gratification.  We
have seemed to lost the discipline to save and wait for the
fruit of our savings.  And, also, retailers have gotten a
lot more sophisticated in offering credit to consumers.
I'm not sure any government policy encouraged this advertising/
marketing trend.

The Democratic Congress probably shares a lot of blame for
the tax incentives for consumer borrowing (credit card
debt was tax deductable until recently, for example) and
the low consumer savings rate.  And I don't know how much
Reagan pushed the tax credits you mentioned, but Congress
had to at least sign off on them.  It is obvious that this
last decade or two business has shyed away from using equity
to raise capital and has used debt to do it more.
--
Dave Bakken                               Internet: bakken@cs.arizona.edu
Dept. of Computer Science; U of Arizona   Voice:    +1 602 621 4098      
Tucson, AZ 85721; USA                     FAX:      +1 602 621 4246
The fact that you're paranoid doesn't prove they're *not* out to get you.
From: GCTHORNE@idbsu.idbsu.edu ("Broward "Bail" Horne")
Newsgroups: misc.invest
Subject: Re: The end of the media
Date: 5 Oct 92 22:11:36 GMT
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Originator: sehari@vincent1.iastate.edu
Organization: Iowa State University of Science and Technology, Ames, Iowa.

>In article <23339@optima.cs.arizona.edu> bakken@cs.arizona.edu (Dave Bakken) wr
>>Sheesh!  Consumer confidence indices are very low when you compare
>>to them other periods of the same amount of unemployment, etc., and
>>this is because the media has been crying that the sky is falling
>>for about a year now.

       Might this be the same media that deafened me from 1986-1989
       about buying real estate NOW, NOW, before it is " too late "  ?

       Might this be the same media who hasn't mentioned word one
       about the latest 10K of IBM dischargees, bailing out a year
       early?

       Perhaps the same media which hasn't mentioned the recent, ominous
       increase in troubled bank loans?

       No, no.  I think it must be the same media that hasn't breathed
       a word of Staggering, almost Unimaginable amounts of International
       Capital cavorting around the globe, upsetting apple carts hither
       and yon.  The same media who neglect the ( I'm just about certain )
       probable fleeing foreign capital and teetering Big-Top banks.


       And inscribed in the Sehari Desert...

>I do not see it that way! Here in Iowa, we have a boom! Average price of
>houses gone up %40 since 4 years ago, when I came in here. The unemployment
>rate is %3.0.  Maybe some regions, specially those places with large

-           4 year ago!?  That was yesterday.
            And yesterday's gone.
Newsgroups: misc.invest
From: GCTHORNE@idbsu.idbsu.edu (Broward Horne)
Subject:      Re: Effects of U.S. national debt
Date: Wed, 30 Sep 92 17:49:58 MST
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Newsgroups: misc.invest
From: ed@odi.com (Ed Schwalenberg)
Subject: Re: Effects of U.S. national debt
Organization: Object Design, Inc.
Date: Wed, 30 Sep 92 17:25:41 GMT

>Read the Forbes 400 Richest People in America issue; this year's issue
>is due out soon.  One of the most interesting commentaries is that of
>the 400, at most one or two derive their riches primarily from the
>stock market.  The vast majority of really rich people and families
>are the largest owners of, and actively manage, large businesses like
>Wal-Mart, Microsoft, Reebok, Mars, etc.  Passive investors (long or
>short) don't get really wealthy.

           Not true.  All the above examples, as well as Hewlett and
   Packard, Intel dudes, etc ALL are wealthy due to their STOCK
   holdings in their own companies.  While passive investors may not
   get wealthy, it is equally true that the great majority of "wealth"
   in this country is derived from stock ownership.  Thus, a market
   crash would serve to effectively redistribute wealth more equitably.

   Personally, I'm now convinced, after reading up on Batra, Thurow,
   Kindleberger, 2 years as a business major with a quantitative
   background, that the current recession will continue indefinitely,
   until a more equitable distribution is made.

      Money ( or wealth ) is like water.  If it don't flow, no go.
Newsgroups: misc.invest
From: masimo@netcom.com (Michael Maas)
Subject: Re: Real-Time Stock Quoters
Organization: Netcom - Online Communication Services (408 241-9760 guest)
Date: Thu, 1 Oct 1992 14:17:38 GMT

In article <1992Sep30.163328.1408@guvax.acc.georgetown.edu> jdiorio@guvax.acc.georgetown.edu writes:
>I need to view real-time quotes (15 minute 
>delay) continuously.  The only quoters I'm aware of are on Compuserve 
>but I'm not willing to pay that price.
     ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

You have got to be kidding.  For your 7.95 per month you get unlimited 15 
minute delayed quotes.  I don't think there is a better deal out there.

Mike
From: irshad@cirrus.com (Irshad Ahmed)
Newsgroups: misc.invest
Subject: Info needed on PaineWeber Inc.
Date: 30 Sep 92 00:24:45 GMT
Distribution: na
Organization: Cirrus Logic Inc.  Fremont, California
Originator: irshad@ss267



Has anybody used PaineWeber Inc. (in St. Petersburg, FL.) as investment
broker house. If so I would appreciate input on your experience 
with them, good or bad. Basically, is it a sound company?

Thanks!
-Irshad.

P.S. Please reply directly to irshad@cirrus.com
From: c-amb@math.utah.edu (Mark B. Alston)
Newsgroups: misc.invest
Subject: Re: Real-Time Stock Quoters
Date: 6 Oct 92 01:31:51 GMT
	<1992Oct1.141738.2079@netcom.com> <2OCT199211500493@zeus.tamu.edu>
	<1992Oct2.211407.11959@netcom.com>
Organization: Department of Mathematics, University of Utah

What resources are available on the internet for receiving stock
quotes?  How recent would these quotes be?

Thanks.
--
--------------------------------------------------------
  Mark Alston        
  c-amb@math.utah.edu
       
"Never knew a decent man who liked mathematics."
			- Bonnie Abbzug-Sarvis
			  Hayduke Lives!
---------------------------------------------------------
Newsgroups: misc.invest
From: ask@cbnews.cb.att.com (Arthur S. Kamlet)
Subject: Re: When to buy Mutual funds - tax implications
Organization: AT&T Bell Laboratories,  Columbus, Ohio
Distribution: usa
Date: Wed, 30 Sep 1992 19:13:33 GMT
Keywords: capital gains distributions.

In article <BvELs3.LE1@news.cso.uiuc.edu> acheng@ncsa.uiuc.edu (Albert Cheng) writes:
>
>In article <1aai04INNi04@early-bird.think.com>, barmar@think.com (Barry Margolin) writes:
>>However, it's a double-edged sword, as you noted.  Just as you can get hit
>>with a tax for gains you never really got, you can also avoid a tax by
>>selling shares just before capital gains are distributed.
>
>How come?  Say, in january, you bought 100 share at $1.00.  It has $.25
>capital gain by December, so the share price is $1.25.  If you wait for
>the capital gain distribution, you will get $.25 for 100 shares = $25.
>If you sell before distribution, you got $125 from your original $100.
>Still a $25 gain to pay tax on.

In fact, if you held the shares less than a year and sell before the
capital gains distribution, your gains are all short term; if you
wait until after the distribution, the distribution is long term
gain..

-- 
Art Kamlet  a_s_kamlet@att.com  AT&T Bell Laboratories, Columbus
From: madalier@frx781.intel.com (Mehmet Adalier - EPG)
Newsgroups: misc.invest
Subject: Re: When to buy Mutual funds - tax implications
Keywords: capital gains distributions.
Date: 2 Oct 92 17:43:54 GMT
Distribution: usa
Organization: EPG Product Engr., INTeL Corporation, Folsom, CA

On a related note, let's say that my fund has capital loses rather
than capital gains.  For instance, 100 shares at $1.00 each, and they
decide they had $.25 in capital loses.  I wait until the end of the year.
How does this work?

Thanks,
m. adalier.