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Investing Glossary:
Free-riding
Copyright 2009,
Campbell R. Harvey. All Rights Reserved.
Do not reproduce without explicit permission.
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| Term: |
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| Definition: |
| A forbidden practice in which the member of an underwriting Syndicate retains a portion of an Initial public offering (IPO) and resells the securities at a higher price determined by the Market at a later time. Also forbidden is a brokerage customer`s rapid buying and selling of a security Without putting up Money for the purchase.
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