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To: SecularBull who wrote (33357)	3/9/1998 5:30:00 PM
From: Jim Patterson	Read Replies (2) \| Respond to of 176387

RE: <<Clients don't expect analysts to take risks. But then again, what do the analysts care about clients anyway.>> What kind of uneducated statement is this? Do you think every thing that analysts say is golden and based on fact? Do you have any idea how this business really works? DO you know why different analysts say different thing? This is exactly the type of comment that really bothers me about this market. A couple of good years and everyone is a stock expert. I got news for you, just because you got one right does not make you a guru. I know guys that run Hedge funds that got there because on one stock. Once that one stock expires, the funds performance dies. I did exactly the same thing when I first started. The stock was called Micro Health Systems MCHS. I bought it @ 3, 5, 8, 11, 15, 19, 20, 24, 25, 27, and sold the entire position at about 26 1/2 on average. The stock never went above 29. I made 90% on many of my accounts in 6-9 months. Then nothing preformed really well for 2 years. Needles to say the old ego suffered a little. It took a long time to realize what had happened. If I had not sold, as close to the top, the performance would not have been, as good and maybe the ego would not have suffered as bad. I did not sell because anyone told me to. No analyst said anything. I just got uncomfortable and started selling @ 10 X sales. How can you say that a client does not expect Risk from some one? This is the Stock business. It is all about risk. Risk of loosing money. Weather it is yours or anyone else's money, Stocks are risky. Great returns don't grow on trees, at least until the end of 1994. I did not mean to go off the deep end on this off topic post, but risks are so much higher now, more than anything just because the risk is perceived to be so low, and it bothers me. Jim