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To: Patricia Meaney who wrote (146)	7/29/1998 6:18:00 PM
From: Mama Bear	Respond to of 253

"When and is it wise to have certificates issued in order to lessen the float so that fewer shares can be borrowed for shorting?" I think the only reason to certificate your shares is if you come up with some reason directly related to your situation. It is my understanding that keeping your shares in the type 1 (cash) section of your account will accomplish the same thing. I keep all my longs in my margin account, because I want to be able to use the increased buying power to maximize my returns. I try to never let tangential issues like taxes and short sellers become part of my investment decision. You can take this with a grain of salt if you wish, as I'm a well known short seller. But short selling is a legitimate investing tool, and helps add stability to the market. Barb

To: Patricia Meaney who wrote (146)	7/29/1998 8:56:00 PM
From: Druss	Read Replies (2) \| Respond to of 253

Patricia--I would not worry about shorting as such. You put yourself at risk under some conditions if you take physical possession of your stock certificates. You may feel the need to move very quickly to take advantage of or to avoid conditions arising in on of your investments. Having the certificates in your possession could mean significant delays and losses. There is an irony too in that if a stock is not heavily shorted you will have no impact on the shares available for shorts to borrow, if the stock is heavily shorted you should probably sell. Modern research has shown that one of the most bearish indicators a stock can have is a large short position. The correlation between a large short position and a subsequent significant drop in share price is very high. Shorts are market sharp individuals who will have studied a company they are shorting very carefully, they will have found something they like before initiating a position. All the Best Druss