Smith Barney will call something a buy; somebody else will call it a purchase. We have to look at the transaction code structure of every custodian, every record keeper, every hedge fund and every private partnership and map that into a [format] that allows the advisor and the client to see what they're worth from the top down. It's very tough.

[However, Salomon Smith Barney reiterated its] buy ... We think the fundamentals at Cisco remain strong, its end markets robust, its overall competitive position healthy, and its outlook as an enterprise superb.

The companies really fit, ... [Salomon's] strengths are where Smith Barney is not strong and Smith Barney's strengths are where Salomon is not strong.

I think the way NOW characterized Smith Barney is disgraceful. I am appalled that an organization like that would not have reserved judgment (until) making their own investigation.

The Smith Barney lineup is kind of thin. They seem to have spotty records in other areas of the market. You haven't seen many managers stand out.

I think Nokia is another great buy at this point, ... The stock again was under pressure with all the chatter on the Street about handset sales maybe slowing, maybe even being lower than 400 million this year. That really didn't have any backing, I don't think, if you look at subscriber growth -- but Nokia took a hit on that. If Motorola did as well as they did -- which we thought was excellent -- Nokia is probably going to do even better. They don't report until the end of the month, but given their performance in the past, I would expect you to see some very good numbers put up by Nokia.