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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (13447)	7/29/1999 3:46:00 PM
From: I. N. Vester	Read Replies (1) \| Respond to of 27311

Zeev, I see you define 'rational' as "agrees with my opinion" :-). Cathy's view 'this means more waiting expected' contradicts the view of the visitor to NI, who said "I was impressed with...how close the factory appears to be to achieving full production capability" imo. The cell phone line was not operating, but it is fully automated and operational. As anyone even slightly familiar with this equipment knows, the line produces huge amounts of product. It is not surprising that it sits idle - they cannot afford to stockpile more than a few weeks production at most. Lev discussed the manual part of the laptop line operation at the Jan meeting. As he had stated in an earlier CC, even with the current manual back end processing, this line produces enough for them to break even (from this one line alone). He also told us that he did not see the need to bring in the automated packaging equipment until they have the faster, Italian laptop line (a.k.a. line 4). Nothing in the visitors note sounded to me as being out of line with the status of things I've heard directly and indirectly from the company, or from their stated plans. Of course you refuse to consider anything that management has to say, or make any personal judgement on the skills and character of the management. That's your investment philosophy and that's fine. Just please don't consider that anybody who interviews management and takes their verbal statements seriously to be 'irrational', just because they employ different investment techniques than you do (which by the way, many professional investors also use). I suppose you will consider this message to be part of a 'shower of flames' because it disagrees with your 'rational interpretation of the facts'.