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Technology Stocks : Long Term Investors' Outpost

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To: EnricoPalazzo who wrote (73)	7/10/2002 1:12:11 PM
From: Lizzie Tudor	Read Replies (1) of 562

Notice Buffett buying tech now, you can't get much more of an endorsement for b&h than that. Never thought I'd see it. Not exactly. He bought some debt in one particular, very well capitalized telecom firm. He didn't exactly buy a bunch of QCOM LEAPs. My guess is that telecom debt has gotten beaten down tremendously lately, and Buffett noticed that Level 3 in particular was still quite solid. I know it was debt... still I take it as a vote of confidence on the survival of the industry, including the survival of some upstarts in the industry. I've heard gurus from the traditional investment side that won't touch telecom in any way, they don't think the model can ever be profitable. I'll try to dig up some of these prognostications today and post, I can't recall who these guys were - the tiger fund manager I think? L

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