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15th December 2007, 11:02 PM
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#11 |
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diyAudio Member
Join Date: Apr 2002
Location: Llanddewi Brefi, NJ
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On my first job in finance I used to help out over the Christmas holidays as the trust departments in NYC would unload boatloads of stocks which they got in from estates -- little OTC companies that their analysts had no intention of covering -- my boss would sell them in February when things got back to normalcy -- that's why he had a house in Westhampton.
One firm that I worked for had their fiscal year ending November 30th so they could baloon their balance sheet at the end of the calendar year for exactly this same purpose. |
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