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To: Bill Harmond who wrote (71960)	8/5/1999 12:26:00 AM
From: Eric Wells	Read Replies (1) \| Respond to of 164684

>>Eric, that's extreme. William - I disagree. I'm sitting here in my office trying to think of another profession where a practitioner can be so far off on a projection without risk to their employment. If a doctor fails to diagnose cancer - well maybe they can get away with it once - but if they fail on several patients, their medical career will probably be cut short. A CEO that tells stockholders in advance that sales will come in at $200, but then delivers $88 better start sending out resumes. An airline pilot that overshoots a runway by 150% - well, let's just say he's in trouble. Mary Meeker doesn't work for me - if she did, I would fire her (the same would go for Blodget). Meeker works for Morgan Stanley, however, and I imagine she has helped to make Morgan one very large pile of money (some of which incidentally, is likely mine, albeit an extremely small portion). There has been a severe lack of prudence in analyzing company valuations on the part of investment banks over the past two years. Do you deny this? Thanks, -Eric