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To: Frodo Baxter who wrote (5410)	11/20/1997 4:59:00 PM
From: Rational	Respond to of 9124

Lawrence: I was not suggesting to short banks blindly. Bear and Stearns has a low P/E because of their many risky lending strategies. They have lent to Cityscape, for example, whose stock collapsed to 1.75 from 35 in 9 months. Even then, BS is not a good short candidate. In general, one should be careful about shorting investment banks, given the explosion of retain investing. Shorting soon after an acquisition is a great idea. I have not shorted any yet, but I am thinking aloud. Sankar