Draft of letter to Louis Rukeyser. Message Board

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Technology Stocks : Draft of letter to Louis Rukeyser.

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From: Deepak R. Ghosh	11/20/1995 10:38:00 AM
	of 37

Daniel: Feel free to add my name to your list. You may want to address some other issues such as: 1. There was unusually high activity in MU stock before the downgrade. Wall Street consistently shows low ethical standards. The major brokerage firms should have separate trading and research departments, but lot of activity before downgrade smells of a rat. I saw the same thing with unusually high activity prior to the Alex Brown downgrade of CY and IDTI a month ago. 2. Kurlak's downgrade of INTC also was unusual. Merrill Lynch started touting INTC and upgraded it in the low 60s. INTC moved with good subsequent release of good earnings as well as with help from MSFT good earnings. Within 3 weeks Kurlak downgrades INTC. Again this appeared to be a quick money opportunity for Merrill's clients. Clearly, there are two issues: (1) competence, and (2) ethics. It is difficult to address the first one, because the brokerage firm chooses their analysts. However, the question of ethics can be addresses by Mr. Rukeyser. Daniel, I commend you on your effort. Please feel free to ask for my when you want it. Deepak Ghosh

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