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Non-Tech : Bid /Ask Spreads - Market Manipulation

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To: Eric Hovdesven who wrote (51)	9/2/1996 4:45:00 PM
From: Robert Everett	of 308

Eric, It would have been nice to have had a lot of customers like you when I was a broker( the " inside" term,by the way, is producer, not salesman...same thing). I have been both a commission driven broker and a for fee only financial money manager. Now I manage only my own money and that of a few family members and a few friends. (I do publish a newsletter that concentrates on stocks in the Southeast... sorry for the blatant commercial),so, I have been on both sides of the desk, so to speak. I always felt I was fair with my customers, but I must admit that it was a tough act to balance their needs with those of the firm and my own need to put bread on the table. That is the inherent problem of Wall Street. I am hardly the first to describe it, but it is important for customers to realize that they are only occasionally in sync with the needs of the broker and his firm. In the NASDAQ market, the temptations are very powerful and many fall off the staight and narrow. I imagine it must be a bit like working as a bartender in one of the country's " adult entertainment clubs". You have to pour up the wiskey according to formula, but there are a lot of distractions!!:.) Good luck. Bob

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