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Technology Stocks : Vitesse Semiconductor

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To: jung, haeoh who wrote (377)	1/8/1997 11:31:00 AM
From: OldAIMGuy	of 4710

Hi H., Thanks for the great report. I believe that the GaAs technology will eventually find a home in the world of Silicon. Maybe a hybrid. Your concern about Silicon's ramping up in speed is valid, however. Things I do like about VTSS: They set a game plan and stick to it with success; They don't spend shareholder's $$$ on fancy glossy annual reports; Salaries are 'reasonable'; and finally, I'm making money with the stock!! Thing I don't like about the stock: Very high Price/Book Value. I've raised lots of cash with this stock since originally buying it at $4 5/8, so I have a healthy cushion (about 50% invested, 50% cash reserve) if the price retreates. Right now I'll start to repurchase shares if the price falls to the high $20s. This is improbable if the Bull continues. However, I did buy shares back at $18 last summer after a retreat from about $35. Stranger things have happened! Again, Thanks for the report. Best regards, Tom Veale

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