- 5 -
Mr. Resser cleared all his trading activities at all times
relevant to this case. Mr. Resser was a one-third owner of
Rialcor. Pursuant to an oral agreement, Mr. Resser received 90
percent of the profits and losses realized in account QRF and
Rialcor received the balance.
A typical workday for Mr. Resser began with a breakfast
business meeting with a co-owner of Rialcor. After the business
meeting, Mr. Resser reviewed the daily trading sheets of
approximately 40 traders in his performance of risk management
duties for Rialcor. Next, Mr. Resser would analyze his own
trading positions and prepare for the day's trading. Mr. Resser
spent approximately 6-1/2 hours a day trading options for Bichon
in account AMR.
The vast majority of Mr. Resser's option trading in taxable
year 1982 was done for Bichon in account AMR. He engaged in
trading activities with respect to account AMR on an almost daily
basis. During 1982, Mr. Resser entered into transactions
involving Baxter Travenol Laboratories, General Foods Corp.,
Honeywell, Inc., and International Business Machines in account
AMR. From April 1 through December 31, 1982, Mr. Resser entered
into a total of 10,077 option transactions in account AMR. For
this same period, Mr. Resser entered into only 29 option
transactions in account QRF, each involving Teledyne (TDY) stock
options. Mr. Resser traded only TDY options in account QRF and
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011