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To: Pruguy who wrote (33951)	10/6/1998 11:15:00 PM
From: Jeng Chiu	Respond to of 97611

OT... of course I disagree with your comments. To a certain degree, we are all salespeople but brokers are salespeople cloaked in terms like "financial consultants" when they're really not. An attorney is a salesperson but she must have 3 years of law school and pass a 2 day exam that requires 3 months of studying. A doctor must get patients, but he's still required to go through med school and then residency. A CPA (especially in a big 6 firm) is also a salesperson, But she needs a college degree and must pass the hardest exam in the professional industry. What are the requirements of a broker? Can you be a broker without a College degree? Yes. How many Doctors, lawyers, and CPA's can be in their professions without a formal education (yes, yes, I know Bill Gates dropped out of college too, but if you're as savvy as Bill gates, then you can drop out too). Are most brokers well trained in market knowledge when they become brokers? No, unless you call the Series 7, "market knowledge". Can a broker (without any other education) be an attorney, doctor or CPA? The answer is no. Can an Attorney, doctor, or CPA be a broker without any further formal education? Yes, if he's sponsored by a firm and can pass the Series 7. I know, I have one and the test is a joke. (2 weeks of hard study and you can easily pass- Ive learned more by reading 5 posts from "From The Trading Desk" SI thread by Steve Goldman than the entire time studying for the Series 7. This is not to say All brokers are ignorant or do not understand the financial markets. Nor is it meant to imply that brokers do not have a college education or dont have a background in finance or accounting. And perhaps many of the most knowledgeable people dont have these backgrounds. But, MOST brokers are not astute "financial consultants" and cant even read a balance sheet. If The broker is a good broker, he could make far more (and I know many brokers that do) than any doctor, attorney or CPA. Kudos to those "financial consultants"