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Technology Stocks : Draft of letter to Louis Rukeyser.
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From: olduser12/2/1995 2:50:00 AM
   of 37
 
The causes of the seasons...

1 December 1995

Louis Rukeyser
Wall $treet Week
Maryland Public Television
Ownings Mills, Maryland 21117-1499

Dear Mr. Rukeyser:

I wanted to tell you how much I enjoyed your interview with
Ronald E. Elijah on the program tonight. I admire his willingness to
focus on the fundamentals and stick to his guns during the "annual
fall cataclysm." Of course, he didn't use these exact words. I
believe he used the words: "Best stocks to be in up through August,"
and "Seasonal." I noted that no one asked him why the high tech
stocks tank every fall. I would like to offer my own answer.
Everyone knows that on earth, the seasons are caused by three things:
the tilt of the earth's axis, Richard Whittington and Tom Kurlak (and
perhaps other, even more occult forces).

Parenthetically, I also noted Mr. Elijah's bullishness regarding
HMO stocks. I wouldn't want to argue that HMOs are not wise
financial investments, but are they best for individuals seeking the
best health care? Perhaps there is some analogy to investment in
tobacco companies: profits can be taken by smokers and nonsmokers
alike. Some say that the definition of an HMO is a health care
institution that denies health care for a profit. Is the HMO's
primary loyalty to the patient or to the stockholder? Are visions of
sugarplums and profit sharing at the end of the year distracting the
medical decision making of your physician? My advise is: just don't
get seriously ill (and if you do, think twice about telling your
insurance company --- they like the healthy ones). I'm sure you can
tell, if I had the answers, I wouldn't be agonizing about these
questions.

Sincerely,

Daniel P. Wirt

cc: The Silicon Investor (http://www.techstocks.com)
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