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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (9463)	10/17/2001 4:44:25 PM
From: Paul Senior	Read Replies (2) of 78576

INT now up about a double for me, so I want to take profits. Selling 1/2. INT was mentioned here several times starting 12/99 as a value pick vs. QCOM, when QCOM had so much going for it apparently. finance.yahoo.com In retrospect, the most profitable play would've been to short QCOM (and buy INT). However, the risk of shorting such a popular stock where everyone (or almost everyone?) believes in the future success of CDMA technology and QCOM's strong patent position, meant that there would've been a risk that the momentum crowd could have pushed the stock higher again. One would need very strong nerves and a strong belief in the overvalued nature of the stock to hold a short, imo. I assume most normal short players would protect themselves also by making only a small (dollar value) short bet on QCOM. This has the offset that gains would be limited too. fwiw, and I've been wrong many, many times

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