Koc Holding (Turkish conglomerate 69k employees) was upgraded my Merril to neutral this morning.
Broker "Hello Mr Johnson"
Investor: "Morning, I'm interested in Koc Holding"
B: "Sorry?"
I: "I want some Koc action, can you you find me some Koc cheap?"
B: "Ahh right yes, let me just check your portfolio..... I see you've never held Koc before are you sure you want to start?"
I: "Oh sure they have 69,000 employees, I think it's a steady investment and Merril like it this morning, they upgraded their view to neutral"
B: "Well that's not a buy rec. it's just a hold, if you have a koc position hold it"
I: "Well I'm not holding any but I want to be"
B: "I see, and just how much Koc did you have in mind, I must say it's quite risky to force any sizeable position of Koc into what has until now been quite a tight portfolio"
I: "Well I've thought about this and think I'd feel quite comfortable holding Koc, I mean I certainly don't want to be short Koc, how would that sound down the bar? "Hi guys I'm short Koc" It doesn't sound good"
B: "I see your point, lets start with 5000 and if you don't like it you can pull out or take a deeper position if its going well"
I: "Lets do it"
B: "How do you want me to work this, do you want to be filled on Koc bit by bit or just filled on one swift action?"
I: "I'd prefer one swift action, load me up, do you know anyone who's offering Koc?"
B:"I do have a list of contacts who are always willing to offer Koc, especially in the size you're looking for"
...... sometime later
B:"OK that's you filled Mr Johnson, you are now long Koc Holding"
I: "It feels good, long's not wrong you know"
B:"I'm glad we found you a piece at such a good price but if you want to reverse I'm always willing to do that for you"
Broker "Hello Mr Johnson"
Investor: "Morning, I'm interested in Koc Holding"
B: "Sorry?"
I: "I want some Koc action, can you you find me some Koc cheap?"
B: "Ahh right yes, let me just check your portfolio..... I see you've never held Koc before are you sure you want to start?"
I: "Oh sure they have 69,000 employees, I think it's a steady investment and Merril like it this morning, they upgraded their view to neutral"
B: "Well that's not a buy rec. it's just a hold, if you have a koc position hold it"
I: "Well I'm not holding any but I want to be"
B: "I see, and just how much Koc did you have in mind, I must say it's quite risky to force any sizeable position of Koc into what has until now been quite a tight portfolio"
I: "Well I've thought about this and think I'd feel quite comfortable holding Koc, I mean I certainly don't want to be short Koc, how would that sound down the bar? "Hi guys I'm short Koc" It doesn't sound good"
B: "I see your point, lets start with 5000 and if you don't like it you can pull out or take a deeper position if its going well"
I: "Lets do it"
B: "How do you want me to work this, do you want to be filled on Koc bit by bit or just filled on one swift action?"
I: "I'd prefer one swift action, load me up, do you know anyone who's offering Koc?"
B:"I do have a list of contacts who are always willing to offer Koc, especially in the size you're looking for"
...... sometime later
B:"OK that's you filled Mr Johnson, you are now long Koc Holding"
I: "It feels good, long's not wrong you know"
B:"I'm glad we found you a piece at such a good price but if you want to reverse I'm always willing to do that for you"