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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 166.81

-4.1%

Nov 17 3:59 PM EST

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To: Gregg Powers who wrote (12005)	7/3/1998 4:33:00 PM
From: Ramsey Su	Read Replies (2) of 152472

Gregg, I don't know what is with this thread. It may be Maurice's down under influence with a Maori spell or surfer Mike's water logged philosophy. Sooner or later, perfectly logical and sensible individuals will succumb to the true spirit of the thread - long off topic rants. Now it has even infected the best of the ON TOPIC posters, Gregg Powers. Though not directly related, what you said is obviously going to be of major impact to QCOM. I don't care how many contracts QC receives or how many CDMA subsribers there are. If the market goes down 20%, QCOM is not going to go anywhere. My personal experience of a bubble bursting was in real estate. Back in the eighties, down town San Diego was going through redevelopment. The first high rise added a couple of hundred thousand feet of space to the inventory. The project was a great success so now everyone jumped on the bandwagon. All of a sudden, a few million square feet are in various stages of development. Then the market reached the saturation point and prices quickly collapsed. The similarity is that many in the business clearly see it coming but there is nothing one can do. Just the fact that office space in Tokyo rents for $40/ft does not mean $4/ft in San Diego is cheap. By the most optmistic projections, the market cannot remotely absorb the planned inventory. So what happened? Prices kept going up while every developer rushes to get their project to market before the bubble bursts. The day of reckoning did come and every pig got slaughtered, together with many innocent bystanders. Are we in a similar situation with the stock market? I think we are rapidly approaching that possibility. That is exactly why I got myself one of those "video games" with a sell button. By the way, a suggestion to help to sleep better at night. Just do what Maurice does. Have a few sherries and start counting all the sheep in New Zealand. That is exactly how he remains so optimistic all the time. Ramsey

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