chuck: I think you should obtain an unequivocal affirmation in writing from Putnam that all of Fred's holdings and transactions are still being properly reported.
The fact that he was not included in the July 2004 filings, leads me to believe that they are not reporting on him.
If you can't get a statement in writing from RP, you can't merely assume that Falk has not sold any stock simply because no sales have been reported.
If Fred is still holding his 1.1 million shares, then I'm glad he hasn't secretly profited. However, based upon the information I've seen, it is still my opinion he's probably sold his holdings. You've opened up a whole new issue here and I'd like to find out the definitve answer myself.
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