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SEC and NASAA

As far as Iím concerned, for most individuals, the stock market is best used for investing, not trading. And, itís important to make that distinction. . . I worry about how some on-line firms advertise. Quite frankly, some advertisements more closely resemble commercials for the lottery than anything else. When firms, again and again, tell investors that on-line investing can make them rich, it creates unrealistic expectations.
Arthur Levitt in Plain Talk About On-line Investing from the SEC (5/4/99)

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