Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.69

0.0%

Dec 24 12:59 PM EST

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To: waverider who wrote (113928)	2/22/2002 10:31:54 AM
From: Art Bechhoefer	Read Replies (1) of 152472

waverider--Since I place high value on things like intellectual property and management skill, I hold to the view that with these assets, a company will pretty much know how to handle itself, no matter what conditions it faces. I don't believe anyone who has followed QCOM over the past 10 years would have been able to predict the extent to which external variables (e.g., political pressures) would affect an economic rationale to adopt one system over another. Nor would one think that executives of large companies could be so egotistical as to go with an inferior technology instead of admitting they made a mistake. I prefer the Warren Buffett philosophy that you buy a stock with the idea of holding it forever, UNLESS you discover a real change in fundamentals. Some of these changes, in the case of QCOM, would include some other company building a better mousetrap (hasn't happened), or a sudden change in management quality (also hasn't happened). Hey, these guys know what they're doing, and sooner or later, those of us with long positions will be taking advantage of the capital gain preference for especially long holds. Art

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