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Technology Stocks : Cascade Communications (CSCC)
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To: AL TOTH who wrote (2387)2/23/1997 12:50:00 AM
From: freeus   of 3743
 
Oh, also, I remember in 1987 I was holding some Fidelity Magellan shares. It was still under Peter Lynch and was doing great. Then on the "black Monday" it fell from around $54 to $35. People began panic selling (who would sell at that price when they didnt need the money anyway?) and Fidelity sent out immediate notices to all shareholders, "Please stop selling. We are having to sell shares of companies far below their value in order to redeem these shares. Hold on, the market is going to come back." Anyway, by Sept of 1991 Magellan was at $68. Okay it took 4 years to double but that is a decent return.
Our problem today is that things were so good last year we got spoiled.
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