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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 77.42

+4.6%

Nov 13 3:59 PM EST

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To: uu who wrote (52651)	5/9/2001 8:58:35 AM
From: Wyätt Gwyön	Read Replies (1) of 77398

Addi, don't worry, if i ever short cisco, it will be via puts, not shorting the equity. notice the $10 price target of the analyst seems to be an IMMEDIATE target; my $3 price target is different. for one, i'm not saying the "fair" value is $3; just that that is a price where i think csco would be an attractive buy for me at a little more than 2X estimated tangible book value of $1.25 a share. for it to fall to $3, i imagine there would need to be a long, slow grind of several years where investors become disenchanted with csco. i do not know if that will happen, but i believe that would open up a decent buying opportunity for me, and one for which i would forego a cup of Starbucks cappuccino of equivalent nominal value. i will be so generous to say that in my opinion, csco may be worth as much as 5 dollars or even more. however, a $3 buy target provides a margin of safety for me.

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