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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (11231)	3/10/2003 3:36:22 PM
From: scion	Respond to of 19428

Stevens of X-Clearing is familiar with biotechnology companies it seems. Company D was a development-stage biotechnology company with its lead product, an immune system drug in Phase III clinical trials. At the end of 1992, Company D had a $14.5 million accumulated deficit and reported a loss for the year of $4.1 million, a loss that was 66 percent higher than the previous year's loss. Over the preceding three years, the stock price had experienced significant volatility. We also find that purchasing Company D stock was a speculative investment. Stevens of X-Clearing...leading the Get Shorty campaign... "Stevens used the margin account to purchase a speculative security and maintained the margin debit for several months. The proportion of the margin debt to the equity in the account was high, with debt of $7,420 versus equity of $10,650 at the time of the Company D purchase. Stevens' sustained use of the margin account to finance the purchase of a speculative security amplified the risks being taken by the Trust. We find that Stevens' recommendation was unsuitable for the Trust." nasdr.com