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Technology Stocks : Intel Strategy for Achieving Wealth and Off Topic
INTC 36.08-3.2%Dec 17 3:59 PM EST

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To: margaret tasset who wrote (4)3/30/1997 5:41:00 PM
From: Frank Ellis Morris   of 27012
 
Margaret, Thank you for your post and was very much cheered to learn how rewarding Intel has been to you through the years with your buy and hold policy . The recent upward spike in short term interest rates by the FOM is way out of sinc with reality but it has certainly pounded the market especially the Nasdaq over recent weeks. I have looked for inflation all over the place this weekend just to be sure. I have gone up and down the streets of northeast Philadelphia, to my neighboring K-mart, to Sears, to Jc Penny, to Pizza hut, to Curcuit City to my local neighborhood bar and I just could not find inflation anywhere. My friend Fred Sherman: however, said that he discovered inflation out at Neman Marcus where his favorite shirt is now selling for $595.00. I think he is going to reconsider buying that shirt.

The growth rate is low and so is inflation and I believe that in several years the Dow will be several thousand points higher than today and Intel should see much more appreciation with sales of its mmx and future developments. We could see a 10 to 15% correction in the dow nearterm, but the important thing to consider with every good industry is the bottom line and because of that I expect good returns on investments held over the long term.

Good luck and happy Easter

Frank Long on Intel
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