Jim, <Intel won't get such a high valuation running a mutual
fund/venture capital firm forever...Maybe some paranoid
wall streeters decided to worry about that today...>
And its a venture capital firm with a rapidly dropping
portfolio value:
Q1 earnings report:
April 1, 2000 (in millions) Carrying Value UnrlzdGain Cost
Marketable securities $9,809 7,800 $2,009
Non-marketable securities 1,009
Total portfolio $10,818
Q2 earnings report:
July 1, 2000 (in millions) Carrying Value UnrlzdGain Cost
Marketable securities $6,201 4,600 $1,601
Non-marketable securities $1,300
Total portfolio $7,501
According to the Q2 statement, Intel realized gains of just
2.1B in the second quarter. BUT THEIR UNREALIZED GAINS
DROPPED BY $3.2 BILLION.
An additional $1.1 Billion just disappeared.
Intel can do this for one and a half more quarters and then
there will be nothing to sell at a gain.
Petz |
