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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 70.89

-0.3%

11:37 AM EST

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To: Ed Forrest who wrote (49772)	3/10/2001 8:47:47 PM
From: Tom D	Read Replies (3) of 77397

I am smart enough to know that I got extremely lucky. It was definitely not skill. I remember being concerned about CSCO's flaws: pooling accounting and employee compensation through options two years ago. I thought about selling then, but did not. What happened after that point? The stock quadrupled. I sold a bunch a stocks on Jan 1, 2000 because the NASDAQ had gone up 80% the year before. Thought I was real smart. But then I bought back in in February because the market was going higher. I find it hard to believe that anybody could have a rational basis for thinking the top would be in March, 2000, rather than four months sooner, or four months later. I do know a money manager who called it perfectly--Cohen Klingenstein and Marks in New York City. They actually run money for CSCOs pension fund, as well as for my company's pension. They sent us a letter, apologetically saying they just could not justify holding CSCO at the March 2000 valuation. They apologized to the CSCO employees and informed all their clients of their decision. Tom

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