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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: brad heffler who wrote (4085)	1/16/1999 3:29:00 PM
From: steve goldman	Read Replies (3) \| Respond to of 4969

Brad, Thanks for the note. I am sorry to hear about your problems with Waterhouse. Bernie was saying there was an article in the Journal or NYTimes about their failures this week. Didnt read it, but didnt sound good. About our firm, yes we are a boutique firm that provides great service. We do so through our efficient use of technology and skillful traders. We have had a fair amount of interest in the firm since the review on thestreet.com and as a result of positive comments by other investors. But fair is about as far as I'd go with it. We're not looking for a new leasehold anytime soon.<GGG> We have no interest in having a big firm, just the best. Nonetheless, a couple of points come to mind. One, we do whatever it takes continue providing the level of service which has been our hallmark. Whether that means more traders, better technology, basically whatever it takes, you do it. Its simply the way you run a business. If waterhouse has let themselves grow too quickly, well, then their management failed. My feeling is that over the year, our service has met our expectations and standards. Over the past few weeks, particularly, the last 7 days of trading, the market reached in my opinion, the greatest level of volatility in the past 5 years. Thursday morning, you could feel it burn itself out. Thursday afternoon and Friday, in my opinion, returned to normal conditions. During that period, I think clients would say we were a bit rushed, everything wasnt as smooth,but trades got handled properly and efficiently. In the worst market condition, which handicapped other firm, we outperformed. Its all about not letting something get ahead of itself and focusing on perfection. Regards, steve@yamner.com