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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Nichols who wrote (491)	7/2/1999 9:36:00 PM
From: Hank Stamper	Read Replies (1) \| Respond to of 24042

"David- You're in 80% equities?? Why all the gloom and doom then?You talk like you have all your money under the mattress. " I do not feel doomy or gloomy. I'd much prefer to have my money in equities and leave my matress for sleeping, soundly. My recent comments were prompted by a person who asked here is then (a few days back) was a good time to buy. IMHO: I think the good time to buy was last Fall, when I ate from the trough at 23 (JDS). Then, it was a real bargain. Now, it is very expensive. I believe anyone purchasing at the current valuation is speculating in something very risky. I cautioned against chasing a stock upward. I recommended waiting for a real correction to get in (I'll buy more, probably, when the market corrects). Then (last Fall) there was little risk. Furthermore, anyone who sees the current price and believes its spectacular upward movement owes us more such movement is making a serious error. And, if there is a real bear market, the most over-valued stocks (I put JDS Uniphase squarly in that category, regardless of the admittedly spectacular revenue/earnings growth rate) will sink faster than the rest--that's simple human nature. I saw a quote on SI the other day, ostensibly attributed to Buffett: "When the tide goes out, you learn who's swimming naked." (Cept, on Salt Spring Island, they all swim naked all the time. Just a bunch of hippy left-overs from the 60s. <GGGG>) Ciao, David Todtman