Dear Joan - We should always be as lucky - I mean, if all we have to do is worry about the semiconductor industry, in my view, we will be very fortunate indeed. I am so bullish on the next nine years for this reason: In his book, THE GREAT BOOM AHEAD, Harry Dent Jr. speaks of a concept called the 'Spending Wave' and specifically to the issue of how closely it follows the S@P index adjusted for inflation. Sufice to say they almost identical with the 44-46 year baby boom birth lag. No reason in my view to view this phenomenon as suddenly going haywire. On the contrary, with the obvious increase in technology's availability, not to mention the information overload it provides, there is every reason to believe, not only in his certainty of a DOW at 8500-10000 by 2005, but that technology, i.e. Cohu, 3Com, C-Cube, and the rest will provide the fuel for this dynamic engine. When I bought COHU at 23 I believed it was a 55 dollar stock. Now I think it's a 75 stock but it will take 24-36 months to get there.
Thanks for all the great insight to you and the rest. Keep Smilin' |
