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To: Ted Downs who wrote (911)	11/28/1997 3:01:00 AM
From: crs	Read Replies (1) \| Respond to of 2349

Think twice before you say, "there ought to be a law against that." We are becomming more like Russia and the Soviet Union is becomming more like us.

To: Ted Downs who wrote (911)	11/28/1997 9:27:00 AM
From: Guy E. Fleming	Respond to of 2349

You make a great point when you mentioned the governmental focus on Microsoft's influence and dominance vs. lack of attention to Fidelity's impact. In terms of mutual funds, the only regulatory investigations I can recall centered on personal trading by a few managers. I don't think any Washington agency has explored the effect of a huge fund's buying and selling -- front running -- pumping and dumping -- individual stocks for the fund's or fund family's benefit. It's probably time for such an investigation so long as it's announcement doesn't rock the markets in any serious way. As for me, I invest mainly in individual stocks but also have a few favorite fund families like Oakmark and Janus.