Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 329.07

-0.4%

Feb 10 3:59 PM EST

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To: advocatedevil who wrote (47280)	5/25/2001 10:54:09 AM
From: Cary Salsberg	Read Replies (2) of 70976

We have not seen real weakness, LOSSES. During the down cycle that started in '95, LRCX's book value went from $22 to $10. There is a tendency to treat the semi-equip cycle with a confidence akin to what we feel about the setting sun rising the next day. It is comforting and an ego boost to think we have found a riskless way to create wealth. It is not dissimilar to a gambler thinking a run of good luck is due to his "system." I don't think the "bubble" has finished teaching investors about risk. I hope people are wise enough to keep their risk comfortable.

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