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Technology Stocks : Ascend Communications (ASND)
ASND 205.50-1.5%Dec 5 9:30 AM EST
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To: Dennis R. Duke who wrote (36651)2/27/1998 6:29:00 PM
From: Sowbug   of 61433
 
I have [heard] this morning that the famous [Buffett] is rumoured to be buying alot of asnd shares. Looks like he is willing to buy up to 50 million shares on the open market.

I wish it were true, but it doesn't make sense. Buffett doesn't buy tech stocks because he buys only in industries he understands, which are insurance, finance, manufacturing, consumer staples, and lately media (though Berkshire Hathaway is technically an underperforming textile mill and also owns a candy company).

I could see him buying DELL at $25, simply because Dell's a company that manufactures a product that's rapidly becoming a consumer staple. But a networking company is very doubtful.

Note that I sure hope I'm wrong, because this is the kind of mistake I like to make -- like drawing to an inside straight and hitting.

I can't say that The Warren Buffett Way, by Robert G. Hagstrom, Jr., was an exciting read, but it tells a lot about Buffett.
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