Nurture by Susan X. Meagher

Author:Susan X. Meagher [Meagher, Susan X.]
Language: eng
Format: epub
Tags: Fiction, lesbian, romance, Adult
ISBN: 9780983275879
Publisher: Brisk Press
Published: 2013-05-24T04:00:00+00:00

***

After dinner, Ryan and Jamie went upstairs to work on their stock portfolio. The game had progressed to a point where they’d merged their assets, deciding that they’d get just as much enjoyment out of beating the market as each other. After a very bullish week, their combined assets now totaled $1.6 million.

As she watched Ryan’s eyes light up when the totals flicked across the screen, Jamie decided that observing the joy Ryan derived from playing the game was one of the most enjoyable parts of her week. She knew that Ryan would never get the same satisfaction from real money, but playing with “funny money” as she called it allowed her to enjoy herself immensely.

“So, when do we get those shares of Palm from that spin-off of 3Com?” Jamie asked.

“Didn’t I tell you what those rats did?” Ryan asked, her pique obvious.

“No, what?”

“They decided to distribute the shares six to nine months after the spin off. They won’t be worth the paper they’re printed on.”

“Really? But people are jazzed about Palm.”

“I know, but an IPO rarely lives up to its hype.” She looked up at Jamie thoughtfully. “I think we should sell our whole 3Com holding. It’s a bad sign that they’re making us wait so long for the spin-off shares, and it really bothers me that they still won’t say what the distribution’s going to be. I don’t trust a company that plays cat and mouse like that. Plus, I keep thinking about what my father said. He doesn’t know anything about the stock market, but he has a firmer grasp on reality than most people who claim to be expert stock pickers.”

“I see your point.”

Ryan made the entry, and when she was done, Jamie looked at her and said, “Hey, wanna have some fun?”

“Sure.”

“If you feel strongly about Palm being over-hyped, let’s sell it short.”

“Really?” Her eyes lit up. “I’ve never sold short before. How do we do it?”

“Well, if you’re sure the stock will fall, you place an order to sell as many shares as you want at the current market price. But since you don’t necessarily own them, your broker has to sell them out of his own inventory, or go out and buy them so he can sell them. You have to put up one hundred and fifty percent of the current value of the shares, either in cash or stock, then when the price reaches the point you want, you buy the shares and make good on the sale.”

Ryan shook her head and said, “What’s in it for the broker?”

“He gets one hundred and fifty percent of the value, and after he buys the shares, that extra fifty percent is his to play with or earn interest on. If you keep the transaction open for a while, that can really add up.”

“This is pretty risky, isn’t it?”

“Oh, yeah. If the stock goes up, there’s no limit to the amount of money you can lose. You’ve gotta have big cojones to sell short, amiga.”

“Let’s do it!” Ryan said gleefully.

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