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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Paul Fiondella who wrote (20373)2/26/1998 8:54:00 PM
From: Hector  Read Replies (2) of 42771
 
Paul,

Save your breath. It's always tough to tell people not to
believe in the tooth fairy. This greatest bull market in
the history of this country has taught people that making
money in the market is easy. My 30 years of investing have
taught me that it's very difficult to make money.

Long term, buying undervalued and out of favor companies
works best for me. Global Marine at 2, MCI at 5 presplit and
so on. Unfortunately, you have to have extreme patience and
most people want to make their millions quickly.

Momemtum investing works in the short term. The only
problem is that you don't want to be on the wrong side of
it when the bad news comes (e.g. VLSI announcement and its
impact on the semis tomorrow.)

This bull market mania appears to be ending in a commodity
style blowoff. It's not going to be much longer before the
shorts taste their oats. It'll be interesting to see if at the
bottom of the coming bear market, investors will want to put
their money in stocks.

Regards,
Dave
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