Bud Burrell is totally nuts, a gross exaggerator and a liar. In that interview alone, he made false statement after false statement. Here are just a couple of examples: "The dollar is down over 50% in 4 years". (The dollar is down less than 50% in 9 years. Another one. "I worked for Dean Witter which was bought out by Shearson. I was then working at Shearson... I left Shearson in 1987". (Dean Witter was merged with Morgan Stanley in 1997 and was never connected to Shearson.)
Bud is right about a few things, but then extrapolates the few things he is right about into one crazy claim after another. The guy is a fraud and he talks out of his proberbial a**.
These reports do not calculate NSS nor do are they able to track offshore hedgefunds that short and transfer their shares from one broker to another so shares don't show up on a reg-sho list.
And just to clarify, broker to broker transactions are reported to DTCC just like any other transaction. And the physical location of where those trades originate is irrelavant.
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