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Technology Stocks : Silicon Graphics, Inc. (SGI)
SGI 93.75-0.6%Dec 12 9:30 AM EST
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To: Bill Holtzman who wrote (2980)10/10/1997 11:02:00 AM
From: Kipper   of 14451
 
Bill,

In Buffet's book, "The Warren Buffet Way", he clearly states that he is not in a stock for eternity. He is in as long as it is a valuable investment. It just turns out that his stocks typically continue to grow and perpetuate his view of undervalued. I think your comments of "never" selling are based around the fact that Value investors preach to relax, be calm, and assess the situation with a logical approach ignoring the chaos of the market. This approach, if based on sound principles, typically does yield much less buy-sell activity but it still does not speak towards "never" selling a stock.

I do agree with your comment about Buffet being of a long gone age. So let's talk about now.

I just got an S&P monthly newsletter that listed their top 30 picks of the month and ... you guessed it, SGI was in the top 30! The supposed guru(s) at S&P thought that SGI's "fair market" price was in excess of $34 per share. This coming from individuals who get paid very nice salaries to throw darts at the Wall Street Journal.

All of this uncertainty is only stirring the chaos that continues to perplex each and every investor. A more interesting topic might be to talk about all of the vapor money that is being created by stock prices shooting through the roof in firms that have still yet to turn a profit or provide a proven product.

What is going to happen when the reality wagon catches up with these inflated prices? Could this be what is happening with SGI?

Any comments out there?

Sincerely,
The Commish
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