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Technology Stocks : Vishay Intertechnology
VSH 16.95+0.4%2:06 PM EDT
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To: WWilkes who wrote (20)12/8/1996 10:08:00 PM
From: Thomas J Pittman   of 39
 
My 'problem' is that I want more than 20%. I tend
to be a fairly long term investor and will 'patiently'
wait 2-3 years to double my money in one company. I
already own Intel (bought last January at 50). Intel
is now a fairly richly valued company from an historical
point of view. It is difficult to see it at more than
160 over the next year. I don't intend to sell my holdings,
but I don't think the risk/reward is there for Intel. Again,
what I mean by that is that I don't see INTC at 240 anytime
soon. In fact, I believe I will see 100 or less long before
I see 200. I say this because I think first or second quarter
jitters about PC sales OR a general crash OR some additional
Greenspan comment will eventually touch INTC. Of course, all
of this is simply my opinion.

Which brings me to vishay. I am seeing this company as
one which is doing a great job in doing what it says it
will do. (for example, we will reduce our costs by
working in cheap labor markets, we will move into the
far east, ...) They are the largest maker of several
key (non-commodity) electronic components. Value line has
a 3-4 year price estimate of 40-60 per share, and I believe
them. I think this is an easy and relatively safe way to
ride a quality company in a fundamentally strong industry.
I have been in around 20 and will buy more around 21 or so.
I believe I will have the chance to sell at at least 45
within 36 months. Again, my opinion only.

J
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