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To: limtex who wrote (123709)	9/1/2002 10:32:28 AM
From: Jack Bridges	Respond to of 152472

Yah, sure, as soon as the tiger changes stripes. Some years ago, at the height of another Italian political scandal, a golfing friend returned from a visit to his Italian homeland and I asked him if there was any chance of a clean government emerging from the mess. His answer has stuck with me like glue. "They're all corrupt." And, IMO after 50 years of hard lessons, Wall Street's best paid crooks share the identical motivational mentality.

To: limtex who wrote (123709)	9/1/2002 11:35:15 AM
From: Art Bechhoefer	Read Replies (4) \| Respond to of 152472

L-Every investor should be skeptical of ALL published investment opinions by brokerage firms. Here's why. A brokerage firm is presumably interested in happy clients. The firm will suggest various investments to its clients prior to publishing information on the recommendations. Once the clients have had some time to act on the information, only then will the firm be motivated to publish its earlier recommendations. That's in the best of circumstances--that is, giving the firm the benefit of the doubt that it wants to help its clients and will do so by publishing information on a delayed basis if that helps. There may be other motivations. Suppose the firm made a bad recommendation, now realizes it's bad, and wants to get its clients out with minimum losses. Then it may recommend the stock in public so that the additional buying interest will keep the price up while its own clients bail out. How can one deal with this? I've always found these broker recommendations helpful in deciding whether I should do the OPPOSITE of their recommendations. Sell the stock instead of buying it, or consider some other sector, etc. Finally, by the time the average investor sees a brokerage firm recommendation (e.g., online, in BARRON'S, or in some of the investment magazines like Money, Forbes, etc.) it's probably stale news. The stock may have already gone up. Or in the case of a sell recommendation, the stock may have already reflected selling pressure generated by the earlier comments. This isn't corruption; it's just the way business is done, and as always, the best policy is buyer beware. Art