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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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To: Haim R. Branisteanu who wrote (75048)	4/16/2001 11:02:45 PM
From: ajtj99	Read Replies (1) of 99985

Haim, I enjoy your posts, and I agree that when people buy a company's stock, they are buying the management of that company. I just think that when someone buys a company run by a guy named "Crazy Eddie," they shouldn't be surprised with the outcome. I mean, after all, his prices were insane. Chambers has disappointed this year, but there are lots of people who benefitted from his spectacular execution through 2000. I had a friend that bought CSCO at 43 after I suggested he buy at 33 late 1999. I suggested that he sell last fall when it dropped to 64, since it was priced for perfection, and perfection does not last. He did (he sold EMC for $104 also under the same pretenses). In an imperfect world, to expect Chambers to be perfect for so long is expecting too much. They were over-valued and priced for perfection. Now they're just another company. Anyone owning a company with a current year PE over 15-20 in a bear market has a good chance of receiving a dose of reality, IMO. Some just get theirs in one big helping.

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