Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 319.11

+5.7%

Jan 15 3:59 PM EST

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To: Sam Citron who wrote (59240)	1/23/2002 1:42:41 PM
From: Kirk ©	Read Replies (2) of 70976

It is a wonder to me that ENE was so naive as not to recognize the inherent volatility of the energy trading business. It starts at the Top. NVLS, AMAT (and now LRCX and Agilent) all get to where they are by not taking large risks with accounting tricks and they manage for cash flow which is real. Since I was trained at HWP (now Agilent) I look for this conservative accounting in companies I invest in... one of the factors. I heard on the news yesterday that Enron CEO Lay was selling all those ENE shares as it went up because he was getting margin calls of sorts from other investments! It seems he was a risk taker outside the company as well as with the company. I've now become a firm believer that the person running the company and its board of directors are sure important and you want to bolt if you suspect them of monkey business. Kirk

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