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Technology Stocks : Semi Equipment Analysis
SOXX 318.06+1.4%Jan 5 4:00 PM EST
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To: Donald Wennerstrom who wrote (11000)8/16/2003 12:39:36 AM
From: Sarmad Y. Hermiz  Read Replies (2) of 95677
 
Don, I have completely converted to the model that the stock market is not a place where people go to raise money to enable them to form a company to manufacture some invention. Instead it is mostly just a pyramid scheme where early buyers try to foist their electronic ledger entry onto someone else who will try to do the same to someone else.

Take even a company as revered as Applied Materials. What is the point of that company having stock in the market ? Is it to raise capital to build a machine to do etch or lithography or whatever ? When was the last time Applied did that.

So why is the manager of Applied even remotely interested in the price of AMAT - the stock ? Could it be that he's looking to the day when he sells those penny-a-piece shares ?

And the fact of huge stock grants and options is an acknowledgement that the stock is so disconnected from the business that the only way to make managers aware of the existence of the stock and stockholders is to give them a free-ride as stockholders. Since they are not interested in buying stock for themselves.

If there is an investment aspect to buying AMAT or any of thousands of stocks, I'd very much like to know it.

Sarmad
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