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Non-Tech : Charles Schwab (SCH) -- A tech-stock profile?
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To: stock_bull69 who wrote (625)6/3/1999 3:17:00 PM
From: Tommaso  Read Replies (3) of 1390
 
How do you know that I am shorting Schwab? You must know something that I do not know. The only short I have is the hi-tech spyder, XLK.

I comprehend very well that you are getting good service from Schwab, just as I get good service from Quick and Reilly, which is much the same kind of organization. Indeed, in some respects it is better. Q&R computers have not yet gone down the way that Schwab's have several times--and they also have brokers whom I can speak to personally and who know their business as well as anyone at Merrill Lynch. But if Quick and Reilly issued stock that went to the levels with relation to book value and P/E that Schwab has, I certainly would not own Quick and Reilly Stock.

Likewise, both Yahoo and especially Amazon are very good companies that give excellent service. Because of this, people who trade on the Internet have become overexcited about them and have bid their prices up even more than Schwab investors have bid up Schwab. For this reason I have been buying LEAP puts on all these overvalued companies, and have done quite well, even though there has been no real correction, let alone crash, in the general market.

I see no reason why I should change the content of what I write to bring it into line with what you think. On the whole, too, I would rather make money than lose money.
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