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To: Knighty Tin who wrote (186407)	8/7/2002 2:12:36 PM
From: stan_hughes	Read Replies (1) \| Respond to of 436258

KT - I always had a problem with where these clowns fit into the big scheme of things. For example, I always knew the institutional guys in our office were well-practised liars and I suspect any of the clients with half a brain knew it too. Research is for the most part a goofy system, keeping track of numbers and publishing reports and opinions that everyone knows are completely biased, and for all the wrong reasons. I know of no one who honestly paid attention to these people or ever actually acted upon their advice. Most people I knew believed you could get just as valuable an opinion on a stock simply by asking the guy next to you at the bar. Since the Fidos of the world do their own research anyway, and with good cause, there's an obvious opportunity to eliminate a costly overhead from the traditional brokerage cost structure here. I'll just add it to the laundry list for overhauling the way Wall Street does business