Subject: File No. S7-06-04
From: Robert W Fretz

March 15, 2004

Information should be, as in any free society, out in the open where it is accessible to all. From a personal, practical point of view, I care little what the other guy is doing. I make my choices based on what I need and what market conditions present at any given point in time. I most assuredly do not invest based on some brokerage house game.