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Technology Stocks : Vitesse Semiconductor

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To: Bruce R. Schlake who wrote (717)	7/13/1997 7:45:00 PM
From: Robert G. Harrell	of 4710

Bruce, you raise excellent points and I don't know the answers. I don't think he addresses the sell point specifically in his book. I'm wondering if he still holds Jabil since it is now way out of his parameters for buying. I'm going to go back and re-read the early chapters and see if I missed it. I still hold MRVC, ASI and CBR which are well outside his limits. I've reduced my positions in all three and put the extra money in stocks that fit his stock profile but I'm in no hurry to sell them, especially MRVC. The next time he is a guest host on CNBC SquawkBox, I'm going to E-mail a question about his sell discipline and also whether his discipline automatically excludes him from fast growing technologies. It seems like he would have missed all the networking stocks phenomenal growth. In the case of VTSS, as Dan Spillane pointed out somewhere, the P/E is way higher than any projected growth rates I've seen. It seems like you are gambling that the analysts are wrong. I decided I could sleep better with my money in something like WDC which is selling at a decided discount to its growth rate. If I find out anything about O'Shaughnessy's sell discipline, I'll post it. Bob

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