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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 73.87

-0.1%

Jan 9 3:59 PM EST

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To: RetiredNow who wrote (58558)	3/20/2002 11:27:32 AM
From: JeffT	Read Replies (1) of 77400

Just a quick response now as time allows. You said "Believe me, Jeff, I don't want to believe Cisco is overvalued any more than you do." mindmeld, that statement makes me think you either do not read my posts or you just want to move me into defending a position that I have not staked out. Let me make this clear, under any valuation model, Cisco and many (most) other listed stocks are all over valued. Period. In fact, I said that when you use your own valuation numbers Cisco is still over valued. There is no way the company could be purchased for what you represent it is worth and then have the cash flows pay for it. Please read my last post again and others on this subject. When an investor talks of "value" and then looks at what a stock sells for on the exchange, the investor must be sophisticated enough to realize that the two things are completely different. Fear and greed move the market. To say that a stock is "worth" something other than what another person can buy or sell if for on an open market is laughable, as I am sure you acknowledge. It is obvious that you made the sell decision based on JS's and your own analysis, and I wish you well in your decision. Good luck and we will miss you on the board since I am sure you will not be hanging around to promote an undeclared short position of your own as some others have. You have been a very pleasant person to converse with and I will miss you. Your posts were always informative and well thought out. Even when we disagreed I liked the way you did it. Hope you visit with us here on the board from time to time. Us sad and sorry Cisco longs need all the encouragement we can get! Bye for now. Jeff

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