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Technology Stocks : PictureTel (PCTL)

PCTL 0.0001000

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Aug 4 2:00 PM EST

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To: Thean who wrote ()	10/20/1996 8:17:00 PM
From: Alfredo Nova	of 920

Thean, we are still wandering around p/e ratios, earnings and other useless stuff. Warren Buffett says: buy a business, don't rent it trading stocks. Do you agree that videoconferencing is a sound business? Then, between Ptel and VTel, which one do you buy? Which one has the best pipeline of products and the best support from Intel and Microsoft? Which one has the potential to become and remain the market leader? After answering these key questions, then one can look at the p/e, otherwise we are buying an undervalued company which has an excellent potential to become even more undervalued. Then somebody else will come out and say that the p/e is low. One final word about the earnings: I would look at the price/sales ratio and not at the earnings in these high-flying technologies. One request at last: can you please explain me how to open a new subject? mine would be "thinprep: a new technology for pap smear" Thanks Thean, good luck Alfredo

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