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Strategies & Market Trends : AMAZON.COM RIDICULOUSLY OVERVALUED BY ANY MODEL (AMZN)
AMZN 1,776+0.7%Aug 16 4:00 PM EDT

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To: Bilow who wrote (175)8/16/1999 1:01:00 AM
From: Gary Korn  Read Replies (1) of 182
 
Carl,

My scariest story from last year involves an arbitrage of CIEN and TLAB. I shorted TLAB and went long CIEN. One day before the vote on the merger, I got fearful and exited the arbitrage. (Thank you Glenn). The merger vote was called off. Had I still been in the arb position, I would have lost several hundred thousand in an instant.

I successfully shorted a construction company (cant recall its name now) as it fell into bankruptcy several years ago. IRID was similar (and an obvious play), but I was too shaken by the AMZN short and the CIEN/TLAB arb position to make hay on the IRID play. Oh well, there is always another opportunity.

Best,
Gary Korn
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