The New Qualcomm - a S&P500 company Message Board

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Technology Stocks : The New Qualcomm - a S&P500 company

QCOM 174.83

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10:44 AM EST

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To: Ramsey Su who wrote (4723)	12/31/1999 12:37:00 PM
From: Jack Bridges	Read Replies (1) of 13582

Thanks, Ramsey, for setting up and monitoring this site. The other was and is getting arduous and fluffy. By way of appreciation to you and all the other true contributors, let me tell a story about valuation. In the mid-50s I bet the farm on a company with no earnings and a nearly impossible valuation. The SEC sent two feet of files to their Seattle office for my study.That didn't help as much as I'd thought it would, due to the complexity of contracts and technology. With the cooperation of a friendly banker, I went ahead nonetheless, determined to own 1% of the float over the next few years. My employer transferred me out of the States sometime later and the banker became more and more nervous. He was in violation of the Regs by carrying stock as collateral for a non-resident. That and some other matters conspired to force me to sell in 1959 when I was up to about .4% of the float. The company was Disney. Another attempt was in the early 80's when I became convinced that Volker would not allow the housing industry to collapse by bankrupting FNMA. Again, some pressures came along to force me out. Determined to go for broke one more time, I pounced on QCOM several years ago and have violated all the rules about margin, options and diversification. The one rule I have obeyed is that of Bernard Baruch: 'It's OK to put all your eggs in one basket, as long as you watch it like a hawk.' I would never have been able to adhere to the rule without the shared knowledge all of you have so generously contributed. Happy New Year Jack Bridges

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