>> The easy availability of capital, the very lax lending standards, the willingness of investors to put no risk premium on these gambles, the underlying conditions that prevailed from the mid-1990s into 2000, that's all over, and it isn't coming back. Not next year, or the year after, or probably for many years to come.
That flies in the face of what I'm seeing. Ten rate cuts and more in sight, and the money supply pumped up to 1999 levels. At the same time I'm getting more unsolicited credit card and re-fi offers than ever before at incredible rates. Are you sure easy availability of capital and very lax lending standards are gone for many years? Feels like they're here now.
>> And I think that, perhaps, there is more than a little amount of "hero worship" in your view of Dr. J.
No, my heroes are the firemen, police, and rescue workers who ran into the wtc and tried to help others get out of harm's way. I respect Dr. J's knowledge of the wireless world and the pro-active way he tries to protect and grow his franchise.
>> I don't see any "acumen".
Then you probably haven't read his book or his bio.
Here's a snippet of his CV for you to look over.
From 1959 to 1966, Dr. Jacobs was an assistant/associate professor of electrical engineering at Massachusetts Institute of Technology (MIT). From 1966 to 1972 he served as a professor of computer science and engineering at the University of California, San Diego (UCSD). While at MIT, Dr. Jacobs co-authored a basic textbook in digital communications entitled, Principles of Communication Engineering. First published in 1965, the book is still in use today.
Dr. Jacobs is the recipient of numerous industry, education and business awards, including: the National Medal of Technology Award, the Alexander Graham Bell Medal from the Institute of Electrical and Electronics Engineers (IEEE), the Scientist of the Year Award from the Achievement Rewards for College Scientists (ARCS), and will be honored with the Bower Award in Business Leadership from the Franklin Institute in April 2001.
Dr. Jacobs received a B.E.E. degree in 1956 from Cornell University and M.S. and Sc.D. degrees in electrical engineering from MIT in 1957 and 1959, respectively. He is a Fellow of the IEEE, a member of the National Academy of Engineering and of the California Council on Science and Technology, a member and past chairman of the University of California President's Engineering Advisory Council and a member of the Board of Trustees of the University of California, San Diego. Dr. Jacobs also serves on a number of industry and community boards and committees.
It's disheartening to hear you dismiss the repeated success of a visionary like Dr. J as gambler's luck, Jacob. Imo, there aren't many in his league.
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