Author: World Worst Stock Picker
Website: http://worldworststockpicker.com/2008/10/21/of-ford-kerkoria…
First, Kerkorian (Tracinda Inc., corporate raider) is selling Ford stock. Tracinda Inc. owns about a 6%
stake of Ford. The nonagenarian (he is 91) bought around 8.5 and Ford
is now around 2.3/share. The important thing about reading between
lines is that he is forced to sell because he is getting a margin call.
That means that he bought Ford shares using a margin loan and since
Ford has gone down he has to put more money on the trade to pay the
loan. He has been using his MGM stake to pay the margin loan. At first
glance I was kind of depressed. However, as I see that with these news
Ford is not even close to the lows of the 10th of October, I have a
little hope for the small trade I placed this week. The trade I put on Monday looks fine so far.
Second, I offer an article I came
across in a British newspaper. It is an open letter from a former hedge
fund manager to everybody. In the study of the markets I like to learn as much as I can from market
makers, mutual fund managers,
and… (Read the rest of this article at the following article source link for the full story)
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