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Technology Stocks : LSI Corporation

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To: Mike Hermann who wrote (19253)	7/11/1999 11:59:00 PM
From: shane forbes	Read Replies (1) of 25814

Yes you must have! The recap as it relates to LSI: - LSI had a great idea (SOC) in 1993-1994. - Lots of people bought into the idea early in 1994 and thought LSI would rule the world with SOCs - the internet on a chip, the this and that on a chip. [Of course the entire semi industry was hot and LSI's restructuring had paid off - these were the valid reasons - SOC was still early and should not have been the reason to buy the stock in 1994 unless you were doing the 'fraud' investing I referred to earlier.] - It has not generated much wealth in the last few years (ROE was low because expenditures were extremely high. In hindsight much of those expenditures (the R&D) were probably necessary investments and should have been thought of in that way. This is the way I saw it.) - Now the great idea may become a great-money making idea (read higher ROE because of a lower cost structure [we hope] and better end market potential [of which I am more certain]). Certainly the financials last Q were the best in the last couple of years - maybe even the best since Q3/Q4 1995. Financially the Symbios transaction provides the icing on the cake.

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