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To: Andrew G. who wrote (71787)	2/26/2001 12:45:48 PM
From: LLCF	Read Replies (1) \| Respond to of 436258

<Not if only the rich and powerful are shareholders. That's my point. Privately held shares can hold more wait than public float which is subject to speculation and programmed trading. Today, few attend annual meetings, but they could look like town meetings of interested investors. This might happen if they knew that 'investing' vs 'trading' was of paramount significance to the shareholders and the company.> In fact, today annual meetings are more egalitarian than ever... with wider participation than ever. I have heard SI members questioning CEO's of sever biotech companies myself. As for private vs. public I strongly disagree with you assertion... there are far easier ways to police program trading, etc. <Interesting. I wonder if you would feel the same if some arbitrager pressured you to sell your house and bought the houses on your street in a leveraged buyout and forced anyone out who didn't want to sell ? > ROFLMAO! < Individuals account for little of the trading activity. > Actually, if true, it would bolster the case against your proposals IMO... sadly last year was probably the highest particiation by day trader types of all time. <LLCF: my point here is that it is not 'confidence' that the public confers but 'permission'. They permit their assets to be used for speculative purposes, speciously referred to as 'investing'.> Agreed... and the sad part is they are cheered on by the brokerage firms with wacky outlandish commercials on TV... however this is little different than the touting of alcohol, junk food, etc... also hazardous to your heath. It probably needs more regulation... the returns obliquely referred to would not be allowed in a fund prospectus. <The time is long overdue to start articulating how and what changes can be made to improve our system and create a more trustworthy means by which we invest in corporate America. > Agreed... but it'll have to wait till I click in this SPX poooooooot buy order... I expect many changes in the market mechanism to occur shortly and want to make sure I get filthy rich first! -ng- DAK