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Biotech / Medical : North American Vaccine
NVX 1.410-6.6%3:59 PM EST
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To: andy harrison who wrote (48)11/1/1996 10:27:00 AM
From: Don W Stone   of 82
 
Mark, Well done. Now Andy do you remember what Prem Lachman of Goldman, Sachs & Co. said to us before the start of the meeting on tuesday. "This is not about vaccines, this is about "truth". I do because that is all he said to us, brief and to the point and yes thought provoking.
Now read the report that Mr Lachman released on monday,the day before the meeting in which he describes briefly what went on in the previous vaccine meetings involving Connaught and SKB and than explains what he expects to go on in tuesdays meeting with NVX.

There were no surprises at that meeting for Mr. Lachman nor the Company. I happen to have called NVX yesterday and that is what they said to me, no surprises.

Mr. Lachman's follow up report which was released tuesday afternoon, to me represents the highest level of what I'll call, "truth" in reporting. He shows his clients a high level of respect. He indeed is not afraid to report to his clients on what went on at the meeting point by point, for their interpretation.
He makes his own conclusion actually subordinate to the task of reporting the event and leaves it to the final paragraph.

I must say I have the same opinions and level of respect for Ron Stern, of Buckingham Research. The investors who benefit from this level of analysis and integrity in reporting are very fortunate.

All in my humble opinion :-}
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