Groundhog Day Message Board

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Strategies & Market Trends : Groundhog Day

QQQ 608.86

+0.1%

Nov 14 4:00 PM EST

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To: John Pitera who wrote (2123)	4/23/2002 1:59:03 PM
From: Logain Ablar	Read Replies (1) of 6346

Hi John: A good table on the semi book to bill #'s. Message 17366960 The main issue is back when the bookings turned in 1998 (notice the level) the semi valuations were much lower than today. I remember AMAT in the low 20's, ASML in the teens, cymi in single digits. WCOM's problems are the problems of many companies, too much debt and it has to be equitized (this is still also LU's problem). Unfortunately the current stockholders normally don't benefit from this, only the debt holders, the more secured the better. I read somewhere WCOM may end up violating a credit line covenant and not be able to tap into a $8 Billion line. Oh but that shouldn't be a problem, they'll be able to collect the $300 million from Bernie. Tim

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