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To: M. Frank Greiffenstein who wrote (441)	11/2/1998 12:49:00 AM
From: wolfdog2	Respond to of 638

Insiders, a further comment... Frank, I'm not prepared to say that overall judgement by insiders is better or worse than judgements made by the rest of us. But I think that it behooves anyone relying on insider buying to consider what it is that insiders know that we don't. After all it is our assumption that the buying by insiders signal that they know something significant about the company that we, the outsiders, don't. Let me use ALLY as an example. Ally, as I previously mentioned has been arduously trying to whip their Bally division into shape. To that end they have developed a bunch of new games and software. At the time the insiders were making their purchases they certainly had knowledge of the upcoming editions to Bally's line. In effect, the insiders were placing a bet that the new products would be winners. But, since most of the new products were not yet for sale, the insiders could not and did not know was how well they would do in the market place. In order for ALLY to do well, of course, they had to not only produce new products, but sell them. But as to that crucial detail, i.e. future sales, the insiders were flying as blind as any outsider. And that being the case, potential investors should have assigned very little investment weight to the buying by Ally insiders.