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Unauthorized Apple buy bites Wall Street firm

NYP – One overambitious Wall Street trader has put the future of his firm in peril after making an unauthorized purchase of Apple shares — just as they started a 17 percent decline, according to one report.

Rochdale Securities, a small Stamford, Conn., brokerage firm, put out a call yesterday for more capital after the misguided Apple buy led to losses, the report by Bloomberg said.

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