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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (2984)	6/21/1999 12:28:00 PM
From: Sam Citron	Read Replies (1) \| Respond to of 5867

OT Ian, While in the process of penning you a rather elaborate reply, my browser crashed and I lost the entire message. ARRRGGGHHH! Let me just say that I find that different sectors of the market tend to call for somewhat different approaches to analysis. In the case of net stocks for example, traditional measures like PE, PSR and book value are to no avail. In the case of my "ten bagger" (TUNE) I could not protect profits with puts because there were no options available. I simply took profits (all of them at 43.75). I would not want to play poker against John Malone nor look a gift horse in the mouth. I am certainly a risk averse investor, i.e. I try to diversify risk by investing across industries, asset classes and geographic regions. Where I differ from most professional money managers is that since I am only actively investing for myself at present, I have the luxury of being able to occasionally place more concentrated bets in certain picks based on my confidence level, rather than having to play strictly by the prudent man rules at all times. I would always prefer to lose money in my own account than to do so with OPM (other people's money). <G> Ian, I congratulate you on steadfastly sticking with the semi-equips through the darkest hours of last autumn. Your steady hand at the helm through the storm has taught me much about patience and perseverance, which I still have some trouble with. For myself, being a novice in this somewhat esoteric industry, without Cary's daily guidance, I unfortunately abandoned my positions in such stocks as AMAT, CYMI, KLAC, PRIA early last year at prices considerably lower than today's levels. Naturally I should have stayed the course and done what Cary and you did. I am still learning! Sam