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Technology Stocks : USRX
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To: Phil Cooper who wrote (15960)3/20/1997 8:08:00 AM
From: Glenn D. Rudolph   of 18024
 
Joseph...Your criticism of analysts is well founded in many cases, but
not in this one. Biggs, while not a technologist, is a *very* keen
observer of the global business and investment scene. He's been around
for decades and is top dog at Morgan Stanley.

Phil,

Mr. Biggs talked about a bear market in June of 1996 regarding the tech and specifically the networking sector. That sector advanced more than 25% to get to its high in Jan 97. The man has "egg on his face" and is trying to redeem his error from the past. This sector has already been crushed. He is a little late out the gate is he not? I can predict the past. It's the future that is the unknown and this Mr. Biggs does not have the foggiest idea of what is occurring in the tech and networking sector. He is embarassed and not man enough to admit it. He is hoping he is correct this time.

Glenn
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