Jill, I remember hearing Druckenmiller loaded-up with QCOM (about $10 mil. worth) around 10/15/99. On this news I sold everything I had (MSFT, CMGI and most of my CSCO, AOL among others) and put it all in QCOM.
What I didn't know is how much of the $10 mil. or so was BORROWED. Fortunately for me, I'm still standing, having used all cash. And even with Q's huge sell-off, fortunately, we haven't come close to where we were in October. I remain holding mostly QCOM.
We should see steady, but bumpy, as usual, upward pressure from here, IMO.
Best,
John |
