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To: Fredman who wrote (38447)	2/27/1999 3:22:00 PM
From: thomas hayden	Read Replies (2) \| Respond to of 95453

Fred, that is not accurate info. Regardless of where a company's equity is traded, all public companies conform to the same accounting standards commonly known as the GAAP. I can name plenty of "shady" companies on the NYSE, starting with Sunbean and Cendant, big companies with their own fair share of accounting irregularites. Also, your comment of "these aren't tech stocks, these are real companies". Well just a stab in the dark, but these tech companies seem like real companies to me - DELL, INTC, MSFT, CSCO, WCOM, AMAT, KLAC, AAPL, ORCL, AMGN and on and on. Traditionally, but this is changing and evolving, the Nasdaq was where small companies started out, and because a company was unestablished they were riskier and many times had more financial problems. Now these "small" companies have grown up and the MSFT's & INTC's of the world have decided they like it just fine on the Nasdaq. Also, the "spikes" up and down with tech stocks has nothing to do with their reporting, rather the huge "Potential" growth of these companies. The potential growth of Yahoo on a percentage basis far outstrips the potential growth of Exxon, again on percentage terms. It is when potential gets ahead of reality that you have the large gyrations. That is not the fault of the NASDAQ, but investors who bid companies to extremes. Sorry if I'm a little sensitive, but I've been a NASDAQ marketmaker for 8 years, and I am sensitive to the unfair bashing the NASDAQ takes. The NYSE has its own problems, for example if a company has an order imbalance it can take hours, and in some rare cases days before a specialist opens a stock for trading. On Friday, VLSI which closed at 10 on Thursday, received a $17 bid from Phillips Electronics. If VLSI was a NYSE stock it would have taken hours for the specialist to get all his ducks in a row and open the equity up for trading. Not on the NASDAQ, at 9:30 EST the bell rang and buyers and sellers met at their price and trading commenced. Well thats all and thanks for allowing me to sound off.