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To: 10K a day who wrote (969)	4/29/2000 11:07:00 AM
From: Sam Citron	Respond to of 1116

RE: recommending stocks during lockup I think it's a bit naive for people to invest in markets that stump even experts like Soros without considering the basics of underlying supply and demand for shares. If naive investors want to buy IPOs that are essentially unproven ventures without even bothering to look at the S-1 registration statement, no law prevents them from doing so. If they want to rely on recommendations of brokers, whose compensation is based on trading activity rather than performance and who have innumerable conflicts of interest, rather than doing their own independent research, that too is naive in my view. However, it is not a broker's duty to warn investors about every possible nuance that may affect share prices. Investors can't expect to transpose such duties on others. There are plenty of shady practices on Wall Street, but on a scale of one to ten, this one hardly even registers. Sam