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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 83.12

+3.1%

Feb 3 3:59 PM EST

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To: Stock Farmer who wrote (55418)	9/18/2001 11:17:39 PM
From: Eric	Read Replies (1) of 77400

John I have been heartened by the orderly decline up until last weeks events. We all pretty much knew the bubble would finally burst but to see this last hit has had a psychological blow to our investing bent. Fortunately in my mind the damage isn't insurmountable yet. Back in 1996 when the "Communications Act" of that name passed I thought we really had a chance to do some broken field running. Alas things always come out much more complicated than one first thinks of how things would play out! Cisco still has an excellent position going forward to capitalize on the new opportunities but the short term climate dictates otherwise. Of course technology marches on and Cisco's existing infrastructure in the Internet today will become obsolete in just a few years. Just like we want the latest computer to speed things up (up until last year at least!) the Internet has a long, long ways to go speed and bandwidth wise. I look at the current state of optical development and conclude that we are still in the stone age. The true optical computer is a long ways off. We are stuck with the optical/electron interface which creates a tremendous road block. We are close to some real breakthroughs that should really break the barn door open. Cisco simply needs time to pass. They have the capitol, management, engineering talent and marketing prowess to fly in the not too distant future. I enjoyed your comment about "buy stocks as a patriot". Hmmmmm is the absolutely correct way to think about this. When I first heard that I thought we should be buying "bonds" to finance our terrorist situation. Capitalism will survive just fine if it is given a chance to grow and prosper. We do have bargains, a lot of them but the storm clouds have rolled in again and we need the wind to blow them away. I think you will know what the wind will be. Eric

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