Semi-Equips - Buy when BLOOD is running in the streets! Message Board

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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!

LRCX 160.55

-4.9%

3:59 PM EST

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To: ForYourEyesOnly who wrote (4136)	12/25/1997 9:41:00 AM
From: Jay M. Harris	Read Replies (2) of 10921

THC, I have not read your prior postings, but I seem to remember you being as bullish as I was on the Moores Law stocks only several months ago. It is very good IMO for you to be able to detect when things have changed in the investment business. Too often when people commiit their heart and soul (hard earned capital) to excellent companys (Cymer) they lose their objectivity and allow emotions to trickle into the investment discipline. THC, remaining objective is the most difficult thing to do! I've noticed in a very short career that few can maintain an open mind when so much is riding on their "initial" asessment of the investment process. I continue to be amazed at the bullish sentiment currently on the web and in the semi industry at large when only 18 months ago similar macro conditions existed that took this group to 1X revenue. IMO the conditions that existed in 95/96 if anything are worse this time around. Yet everyone is attempting to reassure themselves that the market is wrong and they are correct. If in fact you were bullish several months ago, I'm patting you on the back for having an open mind. This aspect of your personality will ensure your success in a very challenging business (capital allocation) in the years ahead! Merry Christmas, Jay

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