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To: Tony C. who wrote (267)	9/24/1998 12:29:00 PM
From: Jon Tara	Respond to of 7772

Tony, let me qualify "you can't buy it on margin". You can buy it on the margin proceeds from other stocks, but you cannot margin an IPO for 30 days. So, for $10,000 cash, you can buy $10,000 worth of an IPO. If you already had some other marginable stocks stock worth $5000, and $5000 cash, you can buy $5000 + $2500, or $7500 worth of the IPO. If the stock weren't an IPO, you could buy $10000 + $2500, or $12,500 worth of the stock.