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To: Randy Ellingson who wrote (72826)	8/9/1999 7:19:00 PM
From: GST	Respond to of 164684

Randy -- always up to each and every one of us to make these decisions for ourselves. But I have seen your approach lead to shock and disappointment. If the market is indeed toppy, it could be a trap even for the best of tech stocks. While overdone -- the Japanese experience is instructive. I remember like it was yesterday hearing the arguments in favor of owning land in Japan -- 'it will always be worth more in a few years' -- etc. It dropped 80% over the past ten years. There are no sectors that are immune from the solution for over-valuation. None. That is why it pays to buy something out of favor as a hedge -- that is why people add some diversity. I see you own some oil -- that would be a good example of diversification. Good luck.