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Technology Stocks : Long Term Investors' Outpost

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To: Uncle Frank who wrote (361)	8/8/2002 4:17:18 PM
From: hueyone	Read Replies (2) of 562

It doesn't matter if you bought qcom at a dime or 100 dollars. It is strange that I find myself defending LTB&H against the founder of the LTB&H thread, but all kinds of strange things are happening nowdays. <grin> In my view the two examples are entirely different. It doesn't look like the first investor, who for one reason or another ended up buying at a discount to intrinsic value, will lose any initial investment capital, whereas there is a chance that the second investor may end up losing initial investment capital. In the long run, an investor who buys at a discount to intrinsic value, expects to have an opportunity to recover his initial investment outlay and then some. In addition, when the disconnect between intrinsic value and market value becomes extraordinarily wide as it did during the bubble, Warren would likely sell and reinvest in more attractively priced opportunities---although currently he does have a problem of having more cash now than for which he can find attractive opportunities to deploy that cash. JMO, Huey

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