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Technology Stocks : Vari-L (VARL)

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To: JBruin who wrote (1151)	8/4/1999 12:02:00 PM
From: Robert Sheldon	Read Replies (3) of 2702

have you ever seen this stock ever trade below its book value? Yes, briefly. . . That sure is an opportunity (when it happens) isn't it? By the way, book value has a habit of increasing each quarter as a company earns $$$. In other words book value is a moving target. The way that I expect VARL to grow could lead to book value rapidly catching up to the stock price if the company continues to be ignored. who knows what could happen If we knew what would happen with certainty we all would be rich. Folks that pretend to "know" what is going to occur on the upside or downside are nuts. I know a lot of old wealthy investors, but I do not know any old wealthy traders. This recent rage about market timing is a bunch of bull . . . WHERE WERE THESE GUYS/GALS IN 1981 WHEN WE REALLY GOT STARTED? Or for that matter where were these folks in the early seventies when p/e ratios were in the LOW single digits? With a bull market everyone looks like a genius. It seems that about all anyone has to do these days is learn the vocabulary of finance and investing and they become an “analyst”. I can not tell you folks how many people are surprised to find out that I track VARL's RFQs and resultant orders. Most send me private e-mails asking if I really know what size orders are likely to be. The answer is YES. THAT IS WHAT REAL ANALYSIS IS ALL ABOUT! VARL is on the cusp of great things. Who cares if they make announcements or touch book value? What matters is that folks like you and I who are willing to learn about a company, double check our findings and then be patient for the company to add $$$ to Retained Earnings and increase Return on Equity. I would rather accumulate a stock for years at the same price levels than pay progressively more each time I free up funds. When something is so obvious as VARL, is not it to our advantage that the big institutionals have not piled into the stock? Quick price appreciation in a given stock is a recent phonomia. I suspect that when we enter a really ugly time in the equity markets folks will wake up and stop “discounting” future earnings expectations and pay more attention to how the company is operating today. VARL is plain cheap using “traditional” analysis (I almost gag saying that, that term was not around ten years ago). WHEW! What a rant. Robert

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