.bodytext {float: left; } .floatimg-left-hort { float:left; margin-top:10px; margin-right: 10px; width:300px; clear:left;} .floatimg-left-caption-hort { float:left; margin-bottom:10px; width:300px; margin-right:10px; clear:left;} .floatimg-left-vert { float:left; margin-top:10px; margin-right:15px; width:200px;} .floatimg-left-caption-vert { float:left; margin-right:10px; margin-bottom:10px; font-size: 10px; width:200px;} .floatimg-right-hort { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 300px;} .floatimg-right-caption-hort { float:left; margin-right:10px; margin-bottom:10px; width: 300px; font-size: 10px; } .floatimg-right-vert { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 200px;} .floatimg-right-caption-vert { float:left; margin-right:10px; margin-bottom:10px; width: 200px; font-size: 10px; } .floatimgright-sidebar { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 200px; border-top-style: double; border-top-color: black; border-bottom-style: double; border-bottom-color: black;} .floatimgright-sidebar p { line-height: 115%; text-indent: 10px; } .floatimgright-sidebar h4 { font-variant:small-caps; } .pullquote { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 150px; background: url(http://www.dmbusinessdaily.com/DAILY/editorial/extras/closequote.gif) no-repeat bottom right !important ; line-height: 150%; font-size: 125%; border-top: 1px solid; border-bottom: 1px solid;} .floatvidleft { float:left; margin-bottom:10px; width:325px; margin-right:10px; clear:left;} .floatvidright { float:right; margin-bottom:10px; width:325px; margin-right:10px; clear:left;} Dear Mr. Berko:

Dear L.F.:

I feel compelled to tell you that I’m bothered by the repetitious reference to your identity as “African-American.” I’m offended by the terms African-American, Cuban-American, Polish-American, Haitian-American and Mexican-American, and I suspect American-Americans share my feeling, too. It seems that the United States is the only country in the world to encourage ethnic separatism in the name of political and social correctness.

Like it or not, L.F., you are an American first and of African ancestry last. And if that order offends you, then I submit that you are living in the wrong country. If you lived in France or England, would you refer to yourself as a black French or a black Briton, rather than a French black or English black? Your constant emphasis (shared by millions of others, too) on your group ethnicity creates a subtle but inexorable hostility between Americans of different ancestry and is disrespectful to those who wish to be known as Americans first.

I encourage you to write E. Stanley O’Neal, who is the chairman and CEO of Merrill Lynch & Co. Inc.. O’Neal, an American black (not a black American), is in charge of the world’s largest brokerage. He actively encourages American blacks to join Merrill Lynch to be the best brokers they can be, supporting them in their efforts to climb the Merrill Lynch executive ladder.

O’Neal made it to the top of Merrill because he has superb communication skills and an excellent math background, is a skilled negotiator and a dynamite people person, has a brilliant mind, and is an influential salesman and an indefatigable worker. He’s tremendously organized and a quick study, plays a mean game of business chess, is a masterful psychologist, has an unquenchable desire to win, is brilliantly competitive, knows how to lead and has an awesome knowledge of all facets of the world of finance. I’m sure he would be pleased to receive your letter and advise you on your career. If you have O’Neal’s traits and energy, you might even become chairman of Merrill or your own Wall Street brokerage. It’s as simple as that.

To the best of my knowledge, there are no mutual funds whose portfolios are restricted to black-owned firms. And I doubt a mutual fund of the genre would have any chance of success. There are not enough black-owned public companies with which to build a portfolio.

The number of black-owned public companies is too small to be of economic consequence, and I don’t know of a single person who would buy the shares of a fund that owns only black-owned businesses. But if you want to start a fund of black-owned businesses, I recommend that you raise about $25 million from various acquaintances, investors and friends and show that cache to Merrill Lynch. Though I can’t see a market for that fund, perhaps Merrill might, or perhaps Merrill may suggest a smaller firm to help you with an initial public offering.

Or you might try to write Gardiner once again. If you show him a $25 million commitment, he will probably fly you to Chicago on a jet plane.

I wish you early success, good luck and a happy career on Wall Street. But please remember that you are an American, and ethnicity isn’t worth a bucket of warm beer on Wall Street. Money doesn’t care a whit about your nationality, your race or your religion. Money only cares about winning or losing.

Please address your financial questions to Malcolm Berko, P.O. Box 1416, Boca Raton, Fla. 33429 or e-mail him at malber@adelphia.net.© Copley News Service