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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 139.60-6.2%Nov 20 3:59 PM EST
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To: Mao II who wrote (7671)2/22/1999 8:37:00 AM
From: Ian@SI  Read Replies (2) of 10921
 
Gents,

I certainly never thought that I would ever come to Fleck's defense on anything, but saying he knows nothing about CYMI or about the Equipment industry is somewhat harsh.

Calling a laser a light bulb is technically inaccurate.

But both are sources of light. Fleck's comments were on a TV news show where the average viewer wouldn't recognize a laser if it were imbedded somewhere within his person. So he compared it to a "light bulb". BFD!

While he seems to lack sufficient understanding of the industry, I suspect he knows it much better than most of those posting on the CYMI thread at that time. ... by several orders of magnitude.

That said, I still believe he's got this obsession with the US is a bubble. ... and he's unable to accept any evidence to the contrary. Given that his business is being a contrarian on a macro level, this may just be his way of protecting his vested interest.

But he does seem impervious to the Budget Surplus and its impact, low inflation (to no inflation), full employment, decreasing interest rates, increased wealth effects, as well as just plain business fundamentals for the individual companies.

Rather he is solely focussed on the magnitude of a few key ratios; and compares those key / ratios with historical norms, completely ignoring the macroeconomic context.

So, a rather long note, to say I agree with both of you. Fleck is a mental midget, or worse. <g>

Ian.
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