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To: Oeconomicus who wrote (5595)	1/3/1998 3:51:00 PM
From: santhosh mohan	Respond to of 27307

I don't think Sankar was referring to YHOO's IPO in the context of the "cheat sheets". Probably talking about the analyst reports that full-service brokerages send their clients on request. In Yahoo's case I can see broker hype taking place if a large secondary was forthcoming. So much for Chinese walls between investment banking and brokerage operations.

To: Oeconomicus who wrote (5595)	1/3/1998 5:14:00 PM
From: Rational	Respond to of 27307

Bob: My knowledge of cheat sheets is based on the WSJ. I have not seen a cheat sheet, and the SEC is still trying to gather information on the cheat sheets. SEC's concern is that the cheat sheets do not include risk factors; the prospectus was designed to achieve that. << The hype that can push a stock like Yahoo! to ridiculous (IMO) level has nothing to do with IPO "cheat sheets". How long ago was Yahoo!'s IPO?>> Good point. But, the cheat sheets remain in circulation for a long time. The scandal for promoting penny stocks is very different from the cheat sheets which are (as alleged) formally issued by major brokerage firms to their clients; not by a bad broker. The SEC is investigating because distributing any written material which does not include risk factors is against the security law. Sankar