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Technology Stocks : Dell Technologies Inc.

DELL 133.92

-4.9%

Nov 13 3:59 PM EST

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To: Tony Viola who wrote (149690)	12/22/1999 11:32:00 AM
From: Chuzzlewit	Read Replies (4) of 176387

Tony, I guess if I felt strongly the way you do, I'd be out of equities or short. I am gradually exiting selected tech stocks (CTXS and BMCS for example) and holding cash. I continue to hold DELL and TLAB because the valuations aren't insane. I think it is madness to short the market because the bubble could continue to expand for some time. Believe it or not, use of computers came along much more slowly than is the use of the Internet. You could be right, but that is entirely beside the point. The issue is how much are you willing to pay for growth while leaving a suitable margin of error for risk. At its height in 1961 IBM had half the P/E that CSCO commands today. I have no answer to proper market valuation or at what precise level the market becomes a bubble, but, like pornography, I do know a bubble when I see one. TTFN, CTC

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