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To: Linda Pearson who wrote (2154)	10/12/1998 9:11:00 PM
From: Michael M	of 10072

Hi Linda and all.....I was recently in NYC and feel compelled to report the following..... Highlight was an hour or so spent on floor of the NYSE.....energy and action galore. A battled-scarred vet ('BSW' if you read Liar's Poker) summed up IOM this way.....if it ain't making money the institutions ain't interested.....if it ain't making big moves on big volume, the traders ain't interested. He added that at least IOM has name recognition and could catch fire again on really good news..... he characterized action in the techs as not so much the result of a 'herd mentality'.....more like 'stampede mentality'. This guy did not hesitate a second when I asked about 'net stocks.....'They are going to eat sht and die; every one of them.....the next big group of millionaires in the market are going to be the shorts that ride these wt dreams all the way down to single digits.' YAHOO!!! He said his firm's idea of the ideal trader was.....actually, I don't think I can say what he said.....suffice to say that 'nads of steel rate a lot higher than wall paper from Wharton. FWIW, it seems the current fad on the floor is to alert your friends to watch the tube on the day and hour that you plan to rush by and slam into Maria during a live update on CNBC! What a country!!!

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