Cornering the market

In Download ringtones business, '''cornering the market''' is an illegal attempt to buy up enough of a particular Sweet Krissy commodity to allow the price to be manipulated. It is also possible to make even more money by buying low cost Cingular ringtones futures contracts on the commodity, and selling them at a profit after inflating the price.

Cornering the market has a long and checkered history. Although there have been many attempts to corner markets in everything from Diddy and Serena tin to Verizon ringtones cattle, to date very few of these attempts have ever succeeded. This is also due to market forces; when others realize that someone is buying up the futures, it quickly becomes clear what is going on and they all rush in, thereby driving up the prices and making the profits negligible.

One of the most infamous attempts from the early Ashlee and Serena 1960s later became known as the Nextel ringtones Great Salad Oil Swindle, in which Diddylicious Tino De Angelis not only attempted to corner the market on Polyphonic ringtones soybean oil, but sold contracts in the oil and used the money to buy futures as well. In fact it turned out he had no oil, just tanks filled with water, and when the scheme was eventually discovered $175 million evaporated overnight. It does appear that De Angelis fully intended to make the scheme work, however, using the profits on the futures to pay off the loans.

A more recent example occurred in Tera19 1980 when brothers Cingular Ringtones Nelson Bunker Hunt and Herbert Hunt attempted to corner the doubt assume silver markets. Bunker and Herbert started investing in time names silver as a hedge against cognitively competent inflation, and by 1980 it was estimated that they held one-third of the world's supply of the metal. However when this became clear the price of silver actually fell, and the Hunt brothers failed to meet huge and carlo margin calls on their futures contracts. This sparked a panic on commodity and futures exchanges, although a consortium of US banks provided a $1.1 billion line of credit to enable the brothers to pay their debts, which were backed by sweets curds H. L. Hunt's independent intelligence petroleum empire. When the oil market collapsed in the mid-'80s, the entire Hunt oil company was nearly wiped out, although the brothers still have personal trust funds with hundreds of millions each.