Semi-Equips - Buy when BLOOD is running in the streets! Message Board

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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!

LRCX 166.37

+4.4%

Nov 10 3:59 PM EST

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To: Cary Salsberg who wrote (10554)	8/1/2002 4:36:35 PM
From: Sam Citron	Read Replies (1) of 10921

Cary, I have sometimes referred to you as the Warren Buffett [WB] of Tech. But as I observe his latest forays into the bloody telecom and gas pipeline sectors, I have come to the conclusion that he has tools, leverage, resources and influence that simply cannot be matched by a small investor with a portfolio of common stocks, no matter how wise, patient, or disciplined such a value investor may be. I am not in any way suggesting that your strategy is fundamentally flawed. In fact, your returns have greatly exceed his over the past 6 years. But as I watch him execute here among the telecom and pipeline carcasses, cutting deals for valuable physical assets from distressed sellers at amazing bargain prices, I cannot help but be impressed. Unlike the common stockholder who can lose everything, he has important secured creditor protection. As you are not buying distressed companies or their assets, it is not really fair to compare you with Buffett. But you do seem to be "blood" brothers. I look forward to monitoring your comparative LT performance. Sam

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