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Strategies & Market Trends : Buffettology

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To: James Clarke who wrote (303)	10/9/1998 1:31:00 PM
From: jhg_in_kc	Read Replies (1) of 4691

James on Sept 22 you wrote: As I have said on other threads, I will buy big name stocks to hold forever when: 1) Internet stocks are in single digits...no speculation 2) Abbey Joseph Cohen has been completely discredited..."buy the dips" is ridiculed. 3) We have seen massive sales of mutual funds. 4) We see a bear on the cover of Business Week. As of today Abby Joseph Cohen has been forced to revise her predictions, there were outflows of funds from mutual funds for the first time in many years, and Newsweek has a cover story on The Crash of 1999. Internet stocks while not in single digits are off 40 to 50%. Are you ready to call a bottom now? PS You dont have the last laugh on Dell. The market marked the stock down from 69 to 40 7/8. I am happy to say I bought several hundred shares at 42 yesterday. Today 52 and climbing. Dell's fundamentals as you know by now are great and its valuation was cut by 41% in 30 days. It is now less than 50 times past earnings, and given its growth rate, much less a multiple of anticipated earnings. Dell will announce these by the way on Nov. 17. I urge you to go to dell.com and check the results then. I ask you again: With Dell marked down 40%, is it not a good buy? jhg

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