OFFICE MEMO
Subject: full service brokers
Time: 2:47 PM
Date: 1/7/97
Dear Ms. Soderberg [MF Shrimp]:

I had just finished reading your Fool Year's Resolution on Motley Fool's web page, when a broker at Wellbrook Investment Bank called me. The broker was interested in selling me stock in a biotechnology firm. As a Ph.D. scientist at a similar biotech company, I feel that I have some expertise in the area and that with some research into the prospective company's business and science, I would be able to make an educated decision about investing.

At the suggestion that I would look into it myself and not simply rely on his advice, he became insistent that I invest now. I have never spoken with this broker before, nor have I ever invested any money through his firm. When I asked him to send me information about his firm, he declined. He also became more and more insulting to me. He told me that I must not have enough money to deal with his firm since his clients are able to invest money if there is a good deal around. He implied that I simply did not know a good deal. Further, he insinuated that my scientific training and active research in the biotech field would be of no help in evaluating if this is a good company in which to invest, yelling, "it doesn't matter who knows more about the field!"

Frankly, I am both amazed and appalled at his behavior. Had I not just read your comments about the "full service" investment industry and their "subtle [or not so subtle] tactics to keep customers under-educated and dependent on them", I would have been completely ill prepared for this phone call and his barrage. Thank you and all of the rest of the Motley Fools for empowering and educating us.

Sincerely,

Jody Beecher