ROTHMAN TO RAPAPORT REDUX A careful analysis of the editorial that Martin Rapaport writes in the June issue of JCK ["Letters," p. 30] clearly reveals the author's own bias of his Rapaport Diamond Report's market force as a standard, rather than the information resource he repeatedly states it to be. Rapaport claims to report on prices and not set them. He states with authority, "The fact that transactions take place at free floating variable discounts and premiums to our list is proof positive that we do not control the price level at which the trade transacts." Can we look carefully at this statement? What is Rapaport saying? I agree with him that he does not control actual diamond transactions. But I also agree with Rapaport's own statement that his list provides the industry price structure. Rapaport refers to transactional prices as some variable discount of his own. Is this repo

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