Charles: I've read about 1/2 dozen articles on the open standard
internet phone that Intel is pushing and all of them say that if
you have the "Intel Internet Phone" the person at the other end does
not need to have compatible software or even a computer; all they
need is the internet access, and that can also be with a PCS phone.
Some of them have the internet stuff built right into them, I hear.
So you also got the idea that Garzarelli was partly responsible for
this selloff today? I thought so, too, because the market was making
a nice recovery and then, after she said that on the business channel
interview and then the Microsoft guy said that they don't expect the
next quarter to be so good, bang! Down she went. Yep, you're so
right: if people get scared out of the market on the word of one
person, they shouldn't be in the market in the first place. Just like
you & I know, some of the best bargains on stocks are had when the
big shots say they're no good. That's how I made all that money on
Philip Morris, IBM, Sara Lee, and Wal-Mart: I bought all of those
high quality stocks when the analysts were down on them, and the same
with many others. Maybe you did the same with Pepsi when they were
saying that their growth was done for because they had too much
competition and eroding margins in the restaurant businesses. So the
thing to do is trust your own research and buy what you like and
believe in. Actually, that's why I bought AMD, because I know they
make good stuff and I believe that will ensure this company's return
someday; it's going to be a long while, but I still think it's going
to come back by next year. People want technology and more of it than
ever before, so when AMD clears out it's inventory of k5's and ships
the wavetables to Compaq and all that other stuff, it'll be looking
much better.
Oh yeah, one last thing on Garzarelli and the other gurus (Ever seen
that guy that gives buys and sells according to the alignment of the
planets? Surprising, but a lot of people follow him and his tips do
pretty well sometimes.): Garzarelli has this mystique because she's
supposed to have called Black Monday back in '87, but I vaguely recall
that she just sort of said the same kind of stuff she's saying now and
has been saying all along, kind of like a magician's slight-of-hand
that convinces people after the fact. So then she goes on tv and says
that stuff, people panic and dump their stocks, and then she looks like
she's right again, and then all that stuff adds to her mystique. Just
like you said about those stock letter: they promote bunches of stocks
all year, then at the end of the year, they hype the ones that did well
and, for some reason, a lot of people don't notice they called more
bad ones than good ones. |
