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Technology Stocks : Vitesse Semiconductor

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To: Duane L. Olson who wrote (798)	8/6/1997 8:39:00 AM
From: OldAIMGuy	of 4710

DLO, 1974! Now there's a real "Once in a lifetime." P/E's between 4 and 5 and interest rates low as well! I had every spare nickel I had in the market from '71 to '74 and couldn't figure out how the prices could keep falling! Not even my textbooks could explain why the market could be so cheap. Then, the market turned on a dime late in the year and 1975 finally justified my patience. Anyway, I didn't have very many nickels at that time, so it didn't really have a big impact on my financials. I still have some shares of what were some of my 'biggest winners', although it's hard to recognize the companies any more. I think all the change along the way is what has added such great entertainment value to the whole business. Better than a trip to Las Vegas! I appreciate the stories having been involved in a small way myself. The best investment that was ever offered to me was the "stock participation plan" from a former long term employer. It was sort of an early version of a 401K. Salary into shares with a 2 for 1 feature upon becomming vested. Adds up! Best regards, Tom

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