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Non-Tech : BANK ONE

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To: Rob C. who wrote (310)2/13/2000 8:38:00 AM
From: Big Dog  Read Replies (2) of 466
 
Rob: Gekko was right! "Perception has become reality."

This was written by James Cramer this weekend in theStreet.com:

"Yesterday Cramer Berkowitz paid 176 times trailing earnings for 10,000 Cisco (CSCO:Nasdaq - news). (Textual analysis time. Cramer Berkowitz is our $360 million hedge fund, and seeks to make maximum profits with minimum risk. Paying 176 times earnings means the stock is very expensive when the market sells at 33 times earnings. The earnings I'm using are the trailing earnings, or the last four quarters. Cisco is the great networker that makes the insider wiring computers use to send over voice and data at high speeds. Ten thousand shares is the average size for a buy of a liquid stock.)
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Let's talk about Bank One (ONE:NYSE - news). I own some calls on this stock, but it is really getting hammered -- much worse than it was during the real estate fiasco of '90. Anybody know what is going on?"

Questions his investment in ONE, but comfortable at any price for CSCO?
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