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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Cheryl Galt who wrote (26495)	11/15/1998 6:43:00 AM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Cheryl, I don't think that you are missing anything. However, if you recall, when Legg Mason? lowered its 1999 earnings estimate by a couple of pennies, at least one of our chronic naysayers tried to show the lowering in the worst possible light by expressing the results in percentage terms, and I suggested that you present the 3Q data in that manner so he could understand the data. Of course no one else used such an approach, so you would have to do the conversion yourself.