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To: Ted David who wrote (7585)	3/25/2001 10:05:08 AM
From: Margaret Mateer	Read Replies (1) \| Respond to of 17683

a snippet from Richard Russell this weekend: The awful truth is that Wall Street doesn't care about you, Wall Street cares about your money. Wall Street isn't interested in conserving your assets, Wall Street is interested in getting control of your assets. Everything about Wall Street is directed towards selling you merchandise and in getting control of your assets. Brokerage house managers ask their brokers, "How are your sales?" They don't ask, "How are your customers doing?" ..........isn't it about time interviews of these "experts" including the question "how are your customers doing?" - no number cooking please - just the facts. last 6 mos, last 12 months are most useful. we don't want to hear "experts" tell us how well their customers will be doing in 5 years or 10 or 20 years! ("safe" to say because markets always go up - rofl - and, if that's the case, why would we need their advice anyway?) and using the edgy excuse that "our clients aren't daytraders" which is a transparent and cheap attempt to divert focus from their absolute failure to fulfill their responsibility as "financial consultants"! imagine if your doctor failed to recognize an odd looking mole or an unusual weight loss... well, the signs were all there and plenty of "daytraders" saw it. what is really disgusting is that these investment banks and brokerages saw it too and kept on recommending their "clients" buy stocks as their own trading desks raked in the profits going short. oh well.

To: Ted David who wrote (7585)	3/26/2001 10:02:02 AM
From: long-gone	Respond to of 17683

News for the air: SBI Gold Deposit Scheme -- Not a glimmer of success Dinesh Parekh THE much-hyped Gold Deposit Scheme of the State Bank of India has failed to take off. Inaugurated by the Andhra Pradesh Chief Minister, Mr N. Chandrababu Naidu, on December 14, 2000 in Hyderabad, the scheme was originally born on November 19 at New Delhi with an aim to bring out unused gold stocks in private possession. These stocks were supposed to be utilised for developmental programmes. Mr Chandrababu Naidu had urged the people of Andhra Pradesh to use their unused gold in the form of jewellery, for aiding the national development. He had said that if people joined the scheme, the gold imports would come down considerably and jewellers would be able to source their stocks at cheaper rate. Jewellery made of these stocks can then be exported and the gold depositors could earn interest at the rate of 3-4 per cent. Andhra Pradesh's temples alone hold gold stocks of over 400 kg, and the temples can earn interest from their gold stocks instead of incurring heavy expenditure in protecting the gold. According to an estimate, of a total of 1.4 lakh tonnes of gold around the world, private holdings in India are believed to be around 13,000 tonnes which, in other words, means a stock holding worth over Rs 6 lakh crore. Despite the existence of such a large private holding, India imports about 700 tonnes of gold annually. Since inception of the scheme, the SBI has collected about 6.4 tonnes of gold whereas Corporation Bank, Allahabad Bank, Indian Overseas Bank and Canara Bank have collected over 400 kg of gold as deposit in the last year. Only 15 temples have come forward to join the scheme, besides some 3,500 other private gold stock holders, who have deposited their stocks. The bank officials were highly optimistic when the scheme was in pipeline and had set a target of deposits of 100 tonnes. However, their optimism seems misplaced as the scheme failed to take off. The total deposits so far indicates that per person only 0.0064 mg of gold has been deposited under the scheme. The bank officials have also failed in lending the gold deposits to jewellers at a higher rate. So far only about one tonne of such deposits has been lent to traders and jewellers at an interest rate of 9-10 per cent. The main reason for this failure is the lack of facilities to melt the jewellery, test the purity of gold and convert into bars. The banks incurred heavy expenditure on having the jewellery converted into pure gold bars after melting them. In addition, the interest payable to the depositors started from the day stocks were deposited. Analysts who had predicted the scheme's failure even before its launch, tested these shortcomings: * The bankers, perhaps, failed to understand that it is Indian tradition to possess gold jewellery. To most people, it is an investment for the rainy day. * The offer was not attractive enough for the people to bring out their jewellery from the lockers and deposit them with banks to earn interest. If the scheme had offered some kind of amnesty under which authorities would not question the depositor on the source of wealth, the scheme would have been attractive. * Most of the jewellery is in the possession of women who do not wish to bear the losses during melting and the purifying cost as also the making charges. These losses are not compensated even by the interest offered by the bank.* Most important, people do not trust the SBI's report on the purity of their jewellery, especially in the absence of the facilities for melting and purifying gold. * Even the SBI is paying excessively high charges towards melting and purifying which, in other words, does not compensate for the interest it pays the depositors, despite charging higher interest rate on lending pure stocks to jewellers and bullion traders. * Another reason for the scheme not taking off is the poor publicity. People did not know about such a scheme, especially in the interior areas where most private holdings are lying. There were no proper guidelines on lending of gold stocks to traders and jewellers and how they could utilise such stocks. Besides there were no specified periods within which the stocks had to be returned. The entire scheme was drawn up hastily and implemented without understanding the market. Hence, the ambitious 100-tonne collection remains only on paper. But the scheme can still be successful if the shortcomings are ironed out. hindubusinessline.com

To: Ted David who wrote (7585)	3/30/2001 3:50:14 PM
From: Ally	Respond to of 17683

Ted, saw you did a good job getting Biggs to clarify exactly what he meant. LOL turned out he was referring to a trading call. Very important for viewers to know whether it is a portfolio grade, or just a quick trade.

To: Ted David who wrote (7585)	3/30/2001 4:37:00 PM
From: donald sew	Respond to of 17683

Ted, It was so refreshing to have Mark Cuban on today. He gave a fair and different view of technology. He was frank and there was a sence of honesty to him, not like many of the analysts which are interviewed. He is bearish on the market, so some of those who are bullish may not want him on, but there was that aire of honesty without an alternative agenda. Need more people like him on CNBC. I also want to commend you on your interview a weeks ago with that analyst(older man) from that St.Louis firm who has been always bullish. You asked him when he will turn bearish and he sidestepped your question, but saying that the past was over and what counts now is from here on. CNBC should have less of those and more of the MARC CUBAN type.

To: Ted David who wrote (7585)	4/4/2001 4:54:15 PM
From: L_A_N	Respond to of 17683

OH MY!!!! We must be close to a bottom. cnbc is starting to discuss shorting selling as a viable way to trade. Once again they are a little late to the party. Notice I stated just a little late, we still have a little lower to go on the NDX, and COMPX it appears. But with cnbc now discussing it means we are getting closer. If they start bringing on the short side analyst then go long everything. haha. Just messing with you Ted, because you always think of us when you discuss the NDX, and COMPX going lower, Thanks.