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Subject:  Re: Buying stocks and Patriotism Date:  9/19/2001  8:40 AM
Author:  asfarley Number:  782 of 4217

Passing along an e-mail that Tony Oz sent to CNBC on Monday.

I spoke with Tony Monday night for several hours. He was on a flight home from Japan when the bombing occurred. He was stuck in (of all places) Honolulu for 4 days. Guess thats a good example of the law of unintended consequences:

"Dear CNBC,

Unfortunately, we as a nation suffered the greatest loss in our history to terrorist acts last week. My prayers go out to all who have been affected by this tragedy, and I wish that we never have to face terror ever again.

As a result of the terrorist acts, we all have suffered losses in various degrees. We are all directly affected by this tragedy and will be affected in the future. I have a friend in NYC who is not accounted for, and I was in the air at the time of the attack. My plane was diverted to Honolulu while on the way to LAX from Japan. I can't stress enough how fortunate I feel to be alive and finally with my family in Laguna Beach, CA.

The reason I am writing you this letter is because I am very concerned about the message that the media is sending out to the investing public. I completely understand the urgency not to panic the public, but at the same time I feel that the public is being deceived. I keep hearing guests on your show encouraging patriot Americans to support the economy and buy stocks. Unfortunately, this is a bunch of bull! Buying stocks does not support the economy! Buying stocks simply provides liquidity to the one who wants to sell. If you want to support the economy, you should spend money and not put money away!

Promises of long term come-back and price targets on the S&P 500 is no different than Henry Blodget and Mary Meeker recommending the now-bankrupt, or close to it, Internet stocks. There is no telling what will happen in the future, but we must not forget that the fundamentals for many of the stocks were not very promising prior to the attack. The big thing that has to be cleared out of the way is not only the no-visibility, but also the earnings pre-announcements that will start coming in next week.

In short, losing money because of deception is not patriotic. It is simply stupid! I have not heard one guest on your show say that.

As a professional, I am sitting on the sidelines waiting for more information to make educated investment decisions. My recommendation to the public is to do the same.

If you wish to conduct a phone interview with me please feel free to email me.

Thank you for taking the time to read this letter,


Tony Oz"
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