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IBM: Playing a Shell Game

I'm not sure your article makes any sense. The arrangement to buy the stock from Banks does not as you suggest represent an illusion. Perhaps the Banks had not as yet accumulated sufficient shares to cover the transaction so would be short. Unless they were naked short which is dishonest there is nothing illusory involved. Are you suggesting there never is any intention by the Banks to cover their short position? There is absolutely nothing different about IBM buying back it's own shares than if it were to buy the shares of another company. Your analysis is very fuzzy. If you have some credible reason to cast doubt on IBMs integrity in this action, you certainly haven't made it clear. Vic