Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: Joey Smith who wrote (28614)	2/21/1998 5:14:00 PM
From: Jefferson Prescott Dewhurst	Read Replies (1) of 1572946

Joey, <<Oh, yeah..so you mean to tell me if Jerry tells shareholders in March that AMD will report losses for at least the next 2 quarters and he still doesn't know if yields will improve, that the stock will stay at $19?>> THE MARKET doesn't discount hypothetical future events.It doesn't reflect the fact that a Texas Tornado could level FAB 25. If either that event or the event you propose were to occur then the stock price would change to reflect the new state of affairs. THE MARKET does discount events which have already occurred such as yield problems, losses for the next 2 Q's and INTEL's pricing strategy. <<The stock market is not perfectly efficient when it comes to information and $19 may not represent the true state of things>> You and others persist in complaining that the market is flawed and inefficient when it refuses to validate your view that the price should be <<$19/sh. based on your recitation of all the factors which have already happened. Then you postulate various future events as if they have in fact occurred and use that as an argument that the market is not efficient, that other market participants are devious or foolish etc. <<(especially if investors and analysts are believing all the HYPE that comes from this company).>> Do you actually believe that a few individual investors and an analyst or two are driving the stock price? Apart from the sheer naivete and paranoia reflected by this statement there is the quite obvious and well documented anti AMD opinion of most analysts which refutes your argument. You should start analyzing stocks on a rational basis and accept that THE MARKET is much wiser than you. <<Good luck on your $40 AMD prediction within a year. <ggg>>> Thanks for the best wishes. I plan to enjoy the ride to $40+ while all the shorts rage on about the evil, manipulated inefficient market which refuses to acknowledge that AMD is only worth $8 as their $10 puts expire worthless. Maybe I'll sell some puts to you! Dewy.

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