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Technology Stocks : All About Sun Microsystems

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To: larry who wrote (44838)	8/30/2001 11:05:55 PM
From: Bob Duncan	of 64865

Larry, Your comments on lack of value are solid, however, who knows what the average Joe will do? I just saw Kramer on CNBC going off on the guy that wrote Dow 36,000. GREAT to see him take that guy on. Basically Kramer said that the BS some analyst put out, like "STRONG BUY on CSCO" when it was at 4 times current levels, and then telling people to "hold on because it always comes back" as they watched their stock value drop 70%+ in some cases was completely insane and should be brought up. He also mentioned that you should be giving money to fund managers that lose 50% of you assets in 1 year because they can't/won't hedge their positions. All of his points are 100% true. Heck, I bought into the hype on these stocks at 400% these levels and was long, but I bought WAY out of the money PUTS to hedge. I ALWAYS hedge. Those "worthless" PUTS saved me from horrid losses this year. If I can hedge with far out of the money PUTS designed to prevent 50% losses, an experience fund manager should be able to as well. Nice to see Kramer going after those folks. In short (no pun intended) I agree with you, but cant call a direction. I will likely buy a straddle on ORCL tomorrow and wait it out. Regards.

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