Date:    03/20/2000  10:36 PM

Subject: Regulation FD

I very strongly support any regulation that requires full / fair disclosure of 
information regarding publicly traded companies.  I am very irritated by 
companies that disclose information to a handful of their favorite analyst while
the individual investor watches in amazement as stock xyz gains/loses 15% in a 
day.  
     
The pecking order for information seems to be:    
    1.  Analyst at the large mutual fund families
    2.  Investors that have significant assets with the firm (more than 10
million)
    3.  Investors that use full service brokers and trade frequently 
    4.  The individual investor
     
I do not have a problem with a company making large sums of money if they do 
something to earn it.  However, this insider information trading needs to stop. 
It sounds a lot like cheating on the test.  These guys get paid to research 
sales, trends, services, and any other information that could affect the 
earnings of a company.  They already have access to vast amounts of information 
the rest of us investors don't see.  They are supposed to use this information 
to forecast earnings.  However, if they miscalculate, no problem, the CEO will 
have an analyst meeting to tell them they are a little high here or a little low
there.  They then take this information back and pass it out in the pecking 
order outlined above.  
     
By the time the company actually reports its earnings, the stock is down 15% and
the small investor pays the price.  
     
Put all these meetings on the web.  Live is the way to go.  Stop this back room 
/ under the table stuff.  Disclosing the truth is the way to go.
     
James Patterson
Individual Investor