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To: Jim McMannis who wrote (114326)	10/18/2000 12:00:52 PM
From: Road Walker	Read Replies (1) \| Respond to of 186894

Jim, re: "FD will add to the volatility of the markets as Analysts will be much more uncertain because of their inability to read earnings. Getting a read on how a company is doing based on posture and facial expression of the CEO is an inexact science." More volatility implies less confidence in performance. Less confidence in an investment leads to lower relative valuations. Do you think that at least a small part of the recent decline in the markets can be attributed to Reg. FD? John