From: e-trader@stella-am.com
To: steve.falcon@rosenifa.co.uk
Subject: Your newsletter.

Only too happy to assist, but I should warn you that I can only tell it as it is. Property has more pain to deliver investors, but trying to dip in and out of the market is a mug’s game. Best to stick with quality and ride it out.

From: e-trader@stella-am.com
To: jamie.burt@stella-am.com
Subject: Good to meet.

Welcome on board! You’ve met all the important members of the team and I know some you’d seen earlier when we were in merger discussions. Why don’t we all have lunch later this week when you’ve unpacked?

From: peregrine@mhcc.co.uk
To: e-trader@stella-am.com
Subject: Banks and credit.

There is still a lot of demand for media comment on what is going on. For example, are we in a 1998, 1989, 1973 or 1929 situation? And how much will Richard Branson pay for Northern Rock?

From: e-trader@stella-am.com
To: peregrine@mhcc.co.uk
Subject: Re: Banks and credit.

I do have money to run, and Hugh’s dumped a whole raft of new arrivals for me to look after. If it’s close by (Bloomberg, CNBC) then fine, but if you think I’m trekking to White City or rising pre-dawn to face Declan at the LSE, forget it.

From: steve.falcon@rosenifa.co.uk
To: e-trader@stella-am.com
Subject: My newsletter.

Frankly, anything will help. And now people see you on the box they are bound to take comfort from your words. Please make it positive. You have no idea how jumpy investors are.

From: liz.trader@hotmail.com
To: e-trader@stella-am.com
Subject: Bad news!

I’m at home. Just before lunch I was called in to my line manager’s office and told they wouldn’t be confirming my contract. It seems my career has been a victim of subprime.

To be continued…