Burt,
You have sent me an e-mail asking what I was going to do now that Intel is being sued for patent infringement by Digital Equipment and Cyrix? I have chosen to respond to you publicly, as I believe that everyone must have asked this same question over the last two days.
Naturally, as I am not a attorney, I can not comment on the technical merits, or patent law, associated with the suits. However, I do believe, that as long term investors in Intel, we share a great advantage over other investors, now. That advantage is that many short term investors do not have the conviction, or knowledge, of Intel's high moral character, as we do.
I have developed that confidence over the almost 10 years that I have owned Intel. During that time I have found Intel to abide by only the very HIGHEST STANDARD OF BUSINESS ETHICS. Perhaps Burt, you may remember the many times that we have written on these Public Bulletin Boards how proud we were to own Intel. How management, and the company, have acted time after time with only the highest degree of integrity. Recall if you will, how the company treats its employees, the honesty they demonstrate when dealing with the Investment Community, or how they are reliably there for their customers.
Over the years, we have read many articles describing the high moral character of Dr. Andrew Grove. The Fortune, Barons, or the Wall Street Journal articles, or Andy's own book, presented a man who is a GREAT CEO. The kind of CEO whose actions, in all phases of his life, makes you proud to be to be a Intel shareholder.
Therefore Burt, I will continue to hold Intel and trust implicitly that this company has done nothing willfully against the law. I will look for opportunities to once again take advantage of those who hold less conviction than we. No doubt, there has been irrational panic selling over these last two days. Selling, I believe, by those who may not be as sure as we,that Intel is innocent of willful illegal behavior. This selling may even go on a for a while longer, Wall Street hates uncertainties. However, of intentionally "stealing" patented technology, as DEC's Mr. R. Palmer implies, or states, is something that the Intel we know, does not do. Of this, I am sure.
Therefore Burt, I will look once again, to add to my Intel position once this panic selling is over.
Regards,
Jules |
