Response to Raymond James' Q3 Conference Call

I want to bring to the attention of those who might follow Raymond James (RJF) my response to their earning call, in which I invite the company to host an analyst day open to all investors, not just selected brokerage firms.

I'm less concerned about publicizing an issue that would help the shorts and more interested in raising an important philosophical issue. In my opinion, RJF is a case study of the arbitrary and unfair nature of how different regulatory rules can result in the massive destruction or preservation of wealth. This fact is of primary concern in this market, where we see major brokerages getting almost wiped out (Bear, Lehman, etc) when they may have similar risk profiles to other companies (RJF) that are also public but don't have to play by the same rules. I think this example speaks well to a constant critique of how regulation via the Fed, Treasury Dept. and SEC can play a role in the current state of credit markets and financials.