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Politics : Formerly About Advanced Micro Devices

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To: Paul Engel who wrote (68809)	8/14/1999 1:20:00 PM
From: grok	Read Replies (1) of 1573683

The following is from Jim Cramer of theStreet.Com which he wrote on Tuesday with the bold parts from today's rewrite. Besides writing for theStreet.Com, Cramer manages a hedge fund. I think most fund managers feel the way he does and this is why AMD got such a tiny bump off their announcement of Athlon. Fund managers are not going to jump into AMD after being burned so many times before. "... The only thing I was trying to buy was Intel, and I did that because I always buy Intel whenever AMD (AMD:NYSE) makes any positive noises. If you have traded Intel anytime since 1989 you would recognize that AMD periodically makes a big splash introducing a new chip, and the press goes all gaga over it and Intel gets hit and AMD goes up and you buy Intel and short AMD and make good money. (Reminder: I have to do the latter half of that trade today.) (I never put the AMD out, but boy was that what looks to be the last great pause for Intel. It was off to the races for the rest of the week after the AMD announcement. I am sick of AMD. I never want to read another word about it. It is simply NOT A FACTOR.) Why this is has to do with horse races and politicians. The press likes to make races out of races that don't exist -- Quayle, Alexander, etc. -- because it's better copy. AMD has never delivered anything. The guy who runs it is still running it. In theater this would be called vaudeville; but in our business it's called competition. Shame on the pressmeisters, but thanks for the uptick! (You need an uptick, or a sale higher than the last, to short a stock. You need positives to have buyers that will pay higher. I was being facetious here, but nonetheless it was an opportunity to bet against AMD.)"

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