SUN microsystems: 7/18/96 quarterly report - BIG! Message Board

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Technology Stocks : SUN microsystems: 7/18/96 quarterly report - BIG!

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To: peter muckerman who wrote (141)	7/24/1996 7:36:00 PM
From: Jeng Chiu	of 386

Please don't interpret our comments as personal attacks. We just don't know what the hell you're saying. For example, you would buy SUNW if it "bottomed out". That is a value type strategy. But Value investors don't buy ALL stocks that fall. Value investors look for stocks that have been beaten down BUT has a bright future. That's why Peter Lynch bought Chrysler. He was excited about their trucks and thought earnings would dramatically improve. He bought the maximum that Magellan was allowed because the price was low AND earnings would be higher. You think competition will hurt SUNW. That's why we don't understand why you would ever buy back. No one buys a falling stock that they believe will be further hurt by competition. You may be right. Maybe SUN's margins will be hurt and maybe the stock will fall in the 40's. But when that happens, we'll be buying because we think that the company will continue to grow. I have never seen anyone buy a falling stock that they don't believe in. You have the most bizarre strategy I have ever seen.

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