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Technology Stocks : Alliance Semiconductor
ALSC 0.8100.0%Jul 10 5:00 PM EST

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To: A. A. LaFountain III who wrote (5187)6/29/1999 11:03:00 AM
From: Charles R  Read Replies (1) of 9582
 
Tad,

<Ken: re "DayGrading"
Nice word play.

Now about my shifts in ratings...>

I had a feeling you wouldn't let that one pass.

In any case, I wonder about the tax consequences of the approach. A 20% - 35% spread can be lost on a lot of clients because:
a) taxes and
b) the difference in prices from the time you make a recommendation to the time a client gets his order through.

Wouldn't that merit some kind of hysterisis wider than than 20-25% range that you use - especially in today's more volatile markets?

Also, a question of curiosity - what is the target audience split for your research (buy side/sell side; institutional/retail)?

Thanks,
Chuck
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