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Technology Stocks : Intel Corporation (INTC)

INTC 35.53

-1.1%

Nov 14 3:59 PM EST

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To: KENNETH R SANDERS who wrote (15829)	3/30/1997 1:41:00 PM
From: Fred Fahmy	of 186894

Ken, I returned yesterday from my vacation on Sanibel Island. The first day of the vacation I read Andy's book "Only The Paranoid Survive". This book is an absolute must read! The philosophies in the book once again reinforce the fact that Intel (and INTC) are not where they are buy accident, chance, or luck but rather by incredibly insightful and resourceful management. AMD and Cyrix will never pose a serious threat because in a battle of management intelligence against Intel they are completely unarmed. History has proven this over and over again. Of course "this time" things are different <VBG>. Every year we are told by people who simply lack a basic understanding of the industry and market forces that "things are different this time" and every year we continue to be well rewarded for seeing what should be obvious to most but apparently escapes many. For the life of me I can't see why people bother responding to Albert or Ray. I don't mind debating (and have many times in the past) with people wishing to play the devil's advocate, but in the case of these two it is apparent that they don't understand what is going on in this industry. Ray's price predictions aren't even worthy of attention and Al's ridiculous statements such as technology companies should not be used as long term investments are downright childish and also show a basic lack of understanding of worldwide economics and social development. In fact, the leading technology companies are *obviously* the BEST long term investments for the foreseeable future and these companies will grow the fastest and have the most potential as the technology revolution (which has barely begun to shape our lives) continues to explode on a global level. At any rate, go back on this thread to the earliest posts you can find or go outside this thread to other sources of Intel bashing and you will find that Ray's and Al's comments are not unique or original. Some people (like AMD and Cyrix management, like Ray and Al) never learn from the past and therefore are doomed to either repeat mistakes or miss great opportunities in the future. Fortunately Intel's management is as aware of the past as they are the future. Once again, I can't stress enough what a great book Andy has authored. Continuing to make great long term returns of INTC is almost sinfully easy. See you at 200, FF

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