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Non-Tech : PWJ Paine Weber thoughts?
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To: AJ Berger who wrote (24)8/28/1998 7:15:00 AM
From: Rob L.  Read Replies (1) of 47
 
AJ, that was my thought exactly. Dresdner was the rumored bank to take over PWJ, but I believe they have rather large exposure in Russia. That would certainly put things on hold. Anyway PWJ does not have exposure to Russia and it was taken down in sympathy with the others. I bought around the close yesterday and looking for a bounce to fill the gap created yesterday at 44. PWJ fell a hard 10% yesterday and is down a whopping 30% in the last 2 weeks or so. Seems pretty excessive to me. Remember also that brokerages make money when the market goes up or down as people sell and generate commissions. granted, investment banking fees will fall, but pwj should unquestionably remain profitable.

Regards
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