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Technology Stocks : Egghead Computer (EGGS)
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To: Van Nguyen who wrote (1563)7/16/1998 1:29:00 AM
From: Louis Riley  Read Replies (2) of 8307
 
Copy of Letter to Greg Wirth @ TheStreet.com

Dear Greg,

Thank you for your mostly balanced report in tonight's TheStreet.com.


I would like to clarify several points raised in your article.

First of all, I was indeed a First Vice President at Rauscher Pierce Refsnes, Inc. I will be happy to fax you a copy of an old business card if you wish.

Secondly, Mr. Schneider and my other detractors may be chagrined to learn that I have been working very hard to build Riley Capital Research into a much bigger organization. I have been interviewing many bright prospects who are eager to help me provide research on companies that are often overlooked by Wall Street's investment-banking-fee-hungry sell side analysts. Watch the wires - we will have many more opinions to express.

Thirdly, the 100 July 15 Egghead calls that have Mr. Schneider in such a "snit" were sold on July 7 - the day after they were purchased and two days before we initiated coverage on the company. So much for the "bloody glove". Perhaps Mr. Schneider should spend less time on conspiracy theories and more time on his day job of selling mortgages. It's a wonder he even has time to "trade" between his letter-writing campaigns and his real job. More importantly, the long positions I did hold at the time our opinion was issued were adequately disclosed in the disclaimer at the end of our report.

Fourthly, Mr. Barney and I did not "split" over Advanced Health. I contributed my services to his newsletter on an ad hoc basis.

Fifthly, my comment of "Nahh, that would be wrong, " was clearly sarcasm. The context of that comment was that many of my detractors seem to truly believe I have no right to express my opinions. The last time I checked the First Amendment had not yet been repealed.

Thanks for the bandwidth.

Louis Riley
Principal
Riley Capital Research

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