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Strategies & Market Trends : Rande Is . . . HOME
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To: American Spirit who wrote (34025)9/7/2000 11:49:25 AM
From: American Spirit  Read Replies (1) of 57584
 
"Lucid on Lucent (from CBS mw, echoing my philosophy)

His resolve may be tested again. In an interview earlier this summer, Gambacorta told me Lucent Technologies (LU: news, msgs) qualified as a dirt-cheap tech stock. That was when the telecom equipment company, which has disappointed Wall Street several times this year, traded for 56 a share in New York. The shares now sell for 42 or so. (See Lucent's one-year stock chart above.)

Here's hoping the fund manager prevails. The bargain seeker would agree with the words of Benjamin Graham, the grandfather of modern securities analysis: "If we assume that it is the habit of the market to overvalue common stocks which have been showing excellent growth or are glamorous for some other reason, it is logical to expect that it will undervalue -- relatively, at least -- companies that are out of favor because of unsatisfactory developments of a temporary nature."
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