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Saturday, 04/16/2005 10:34:10 AM

Saturday, April 16, 2005 10:34:10 AM

Post# of 51805
Futures and options are zero sum - stocks and real estate are not! That is what Al Greenspan refers to as "the wealth effect" (wealth created "out of thin air" by rising stock and real estate prices). In stocks and real estate there are more longs than shorts, whereas in futures and options the number of contracts held long, equals the number held short (zero sum).

-Bliss







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