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To: Wayners who wrote (8928)4/5/2001 2:45:33 PM
From: LPS5  Respond to of 12617
 
All great points, Wayne.

Especially, I'd add, your point about "dubious immoral practice[s.]" Whether it's a pure pump n' dump (which I personally, in most cases doubt, if only because I don't believe that the regulatory bodies would look past such practices: but let's say "if") or just a ridiculously irresponsible practice, it's shoddy at best and illicit at worst, and should make anyone - retail or institutional -think twice about the other services they're getting.

If I was buyside manager with enough assets, and enough trades were going to the block desk of a firm whose other departments were issuing all buys and no sells right after IPOs, you better believe I'd hire a consultant to check the quality of my executions versus other firms'.

LPS5