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To: Jules B. Garfunkel who wrote (937)	4/17/1999 1:04:00 AM
From: Harry Landsiedel	Read Replies (1) \| Respond to of 990

Jules. Thanx for your suggestions. On another subject, Jules. Re: "Where's the rationality?" I thought of you this am when I saw that Pfizer is telling analysts that it will earn between $2.40 and 2.49 in 1999. Now that's about the same range for Intel. Yet Pfizer sells for 130 (after dropping 14+ points mind you) and Intel is mired below 60. Go figure. I also thought of you on reading the Heard on the Street column. The CEO of Progressive Insurance has the following POV: "Analysts are paid to analyze. You know, go out and kick the tires: interview customers, suppliers and competitors, and dig through company filings, that sort of stuff. If analysts are spoon-fed by companies, Mr Lewis believes, they just aren't doing their job." In case you didn't see this piece, I thought you would get a kick out of it. HL