From: "Perry E. Metzger" <perry@snark.imsi.com>
Date: Mon, 18 Apr 94 12:50:40 PDT
To: Peter Wayner <pcw@access.digex.net>
Subject: Re: Dirty Laundry...
In-Reply-To: <199404181938.AA02158@access3.digex.net>
Message-ID: <9404181950.AA03832@snark.imsi.com>
MIME-Version: 1.0
Content-Type: text/plain



Peter Wayner says:
> I think you misunderstand what I suggested might possibly have
> been happening. If a potential launderer guesses the market correctly,
> then they don't close out their position. They just let it keep
> losing money because they know that they're piling it up elsewhere.

I see that you have no idea of how futures prices move.

What makes you so sure a position isn't going to reverse itself? What
makes you think that it will necessarily follow a trend? Ever do any
statistical analysis on futures prices? You will find that they do not
move in an obvious or predictable manner. A price that drops in the
morning might suddenly reverse itself on a dime at noon and rise until
one only to plunge again to the close. Some unusual people do pretty
well with trading, but the vast majority of people do not.

> Someone else has pointed out a large company in Chile recently lost
> a small fortune on financial trades. They placed bets on the market
> and  didn't cut their losses. 

Actually, you have the wrong country and the wrong situation, but lets
ignore that.

Rather than hypothesizing, allow me to suggest that you actually
demonstrate your money laundering prowess in a live demonstration.

Perry