Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 301.88

-1.0%

Jan 14 3:59 PM EST

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To: Jacob Snyder who wrote (54108)	10/13/2001 11:52:58 AM
From: Cary Salsberg	Read Replies (1) of 70976

My ballpark bottoms for AMAT, KLAC, and NVLS were ~2 times book or around $20. These were established at the beginning of 2001. Book value has varied for the 3 since then. Now, I am in my price ranges and I am implementing an accumulation program. I still have a negative price bias and an accumulation bias. Ballpark valuations give way to the market's short term reaction to current results and future expectations of war and profits. I try to be mechanical in my reactions. My negative bias means that I am more concerned about surprises on the downside. My accumulation bias makes this reasonable because even after selling into this rally, my cash is only ~25%. Of the new money I have to commit to AMAT, KLAC, NVLS, LLTC, MXIM, ALTR, and XLNX, I have raised cash back up to ~48%.

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