Lam Research (LRCX, NASDAQ): To the Insiders Message Board

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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders

LRCX 148.83

+3.9%

3:59 PM EST

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To: Proud_Infidel who wrote (3336)	9/16/1999 6:50:00 AM
From: Duker	Read Replies (1) of 5867

DRAM: Is there any other business where prices can be so volatile? I mean, a couple of months ago, we were facing sub-$4 parts. Now, $15? That is an incredible move. But, in a few months it can all collapse around itself and be right back at $4. So, in essence, the SemiCaps' stock prices (as deemed proper by Wall Street and Mssrs. Supply & Demand) reflect simply the pricing vagaries of their largest customers' most discrete end product? If they did not bid these things up so much, the goofy momentum-traders would really annoy me ... sending the things up and down 6% in a 24 hour period ... I have lightened my LRCX position considerably ... though it is still greater than 20% of my portfolio (which, to you MPTers/Closet Indexers is still "unreasonably risky ... verging on idiotic" ...). In the mid-sixties, I not only feel vindicated, I feel rich ... and I would like to stay that way in order to prepare for the next cycle ... Which is not to say that I do not have a considerable amount of capital invested in LRCX. I do and I will ... until we see the turnaround truly manifest itself ... and get the appreciation/recognition it deserves. --Duker

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