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To: GST who wrote (62704)6/15/1999 5:01:00 PM
From: Sarmad Y. Hermiz  Read Replies (2) | Respond to of 164684
 
GST,

You know probably the source of our disagreement is that you are thinking of the whole market, and I am thinking strictly of my own portfolio. I basically buy tech stocks when they are flat on their back and people consider them beneath contempt. Like ORCL at 23 a few weeks ago. Or SCI at 26 a couple months ago. Or CPQ at 22 yesterday. So I agree with you that high P/E will be hurt. But I don't care. I sell it before it gets to be high PE. Which is the main flaw in my style. I sell before the the overshoot occurs. Like yesterday I sold some LSI at 43+. So by all means let the high P/E stocks like CSCO come down. That's what the 30% cash is for.



To: GST who wrote (62704)6/15/1999 9:15:00 PM
From: Cap_Loss_Cfwd  Read Replies (1) | Respond to of 164684
 
>>The 'rotation' is an attempt to find a place to hide -- a difficult thing to do, but not impossible<<

It takes a lot of guts to go long gold and oil while shorting the internets. In fact, at times you feel like Noah building an arc while the heathens ridicule you from all sides . However, if you invest in things that noone can invent you eventually end up owning a scarce commodity.


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