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Technology Stocks : Warren Buffett

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To: Tulvio Durand who wrote (11)	7/27/1996 12:45:00 AM
From: Neil McFadyen	of 82

Tulvio, the thing that worries me about USRX right now is that they might get stuck with a huge inventory of 28K modems once people start buying 33K. I listened in on the ZOOM conference call the other day and they spoke of declining margins due to price competition orginating from MOT and USRX. Also with CSCO's purchase of Telebit's modem technology USRX may get more competition on the ISP side. Although I am tempted to buy USRX now at 52 I will wait because I think I can make more by shorting CSCC. There is still a major risk going long until seeing what the FED is going to do with interest rates. As soon as Intel is close to releasing their MMX chip I will increase my long positions. The thing I don't like about CSCO is everyone is buying it and the employees have generous stock option plans whiich makes it a risky stock if some bad news ever comes out or competition increases. My main strategy is to short overvalued stocks after a sharp increase for a 1-3 point drop until I start getting burned then maybe I'll go long. Favourite short right now is NSCP, I think it will drop below 20 in the next few months. Favourite longs IOMG, COS, ZOOM, DBCC, WWW/TSE

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