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 161.43

+1.4%

Nov 12 3:59 PM EST

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To: Jay M. Harris who wrote (4301)	1/5/1998 6:28:00 AM
From: dfloydr	Read Replies (2) of 10921

Happy New Year Jay: We are perhaps a little off subject ... but the perspective applies to all our threads. I suspect that you give research too much credit at the average big sell side firm ... your model seems to place research at the center of the enterprise ... as if it were the reason for the firms existance. My experience over 27 years is that research is relegated to a secondary position ... it is there to generate support for underwritings and trading activity ... but it sure as hell better not get critical of a firms underwritings or any stock held in size by the trading department. In otherwords, Wall Street research is more properly characterized as fluff or bait for the real game. That said, there is a generous amount of good and valid research on the buy side ... but we should always understand the role of that research and "add salt as required". Floyd Russell

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