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To: Dale Baker who wrote (7451)	6/13/1999 1:37:00 PM
From: Hiram Walker	Read Replies (1) \| Respond to of 118717

Dale, the reason is the level of fear these people have. One bad quarter and they are out of a multi-million dollar job. Faith is the refusal to panic,and to believe in something no one else does. These money managers have no faith,only fear,they cannot outperform individuals. Hiram

To: Dale Baker who wrote (7451)	6/13/1999 1:39:00 PM
From: Mama Bear	Read Replies (1) \| Respond to of 118717

I'm not sure it's your criticism of fund managers is totally fair Dale. Would you be able to do as well as you do faced with their restrictions? They can't enter a position that is more than 5% of their portfolio. The position can't be allowed to exceed 25%. They can't short. They can't do options. Because of their size they can't play small stocks like you or I. It's also only a recent phenomenon that most are losing to the indices. I read a piece by John Bogle concerning how investors in the Vanguard SPX fund shouldn't expect that year after year, and posted stats to show that in about half the years the majority of managers outperformed the index. Only time will tell if the new pair of dimes has changed all that. Barb

To: Dale Baker who wrote (7451)	6/13/1999 1:44:00 PM
From: Hiram Walker	Read Replies (1) \| Respond to of 118717

Dale, there are two segments of telecommunications that have an immediate chance of turning around. One is the wireless MMDS cable arena,due to money flowing in from Sprint and MCI,that is why I like CAMP. That my not be the exact right stock,but the idea is right on. Look also at DMIC,I like that company also. The other arena that is about to turn around is Video on Demand. Since the time that TWX did their FSAN network trial in Orlando,costs have dropped substantially. It is now cost effective to deploy VOD. There is a company doing Digital TV,add insertion and VOD,it is called SEAC. It is also a prime candidate for a huge run up. I heard great things from the SCTE convention in Orlando. They did a kick ass demo with HLIT for VOD. I missed getting in at 8,and have since sat around it waiting for a pull back. It has gone straight up since May25,the demo day,not one day for a pullback. I hope it drops to 10,then I will load up on that one also. I am trying to get a handle on management,I knew nothing about them before May 25. Sometimes I am too prudent an investor. Hiram