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To: Gregg Powers who wrote (27288)	4/16/1999 1:41:00 PM
From: Morgan Drake	Read Replies (2) \| Respond to of 152472

Apparently stock splits do matter. See the Winter Ed. of the Journal of Portfolio Management. A lot of prior academic literature backs up the author's instant article. In essence, stock splits are deemed to be a signaling device employed by management, directed toward their constituencies and analysts, that good times are foreseen. Additionally, this brings more analysts into the fold. More analysts forecast earnings better. Etc.,etc. I think the study periods go back more than 18 years. If I remember correctly, split stocks outperform nonsplits by 35% per annum. Something like that. The author posited some trading rules that indicated as much. Regards, Morgan

To: Gregg Powers who wrote (27288)	4/16/1999 1:50:00 PM
From: Jon Koplik	Read Replies (1) \| Respond to of 152472

LWIN mentioned on CNBC now. Jon. eom.