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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (70665)	11/17/1999 4:40:00 PM
From: jim kelley	Read Replies (1) \| Respond to of 132070

Michael, Re: But even those who have been the best in the Phi Scamma Jamma fraternity, Dell and Cisco, for example, are starting to note weaker growth in revenues. And when they catch colds, the other cos. get pneumonia Putting DELL in with CSCO' accounting is a complete mismatch. DELL's accounting is straight forward whereas CSCO has a stream of writeoffs from their unending stream of purchases. DELL is fairly valued from a discounted cash flow model. CSCO is really difficult to value with such a model because of the creative bookkeeping. DELL's business growth is organic whereas CPQ, CSCO and many other companies are growing through acquisitions. True, DELL's growth rate is down this year to a mere 42% from a sizzling 62% last year but trees do not grow to the stratosphere. But you have to admit 42% revenue growth is not a bad showing at the business race track for a 22 B company. Jim Kelley

To: Knighty Tin who wrote (70665)	11/17/1999 7:22:00 PM
From: TRINDY	Read Replies (2) \| Respond to of 132070

Mike, thanks once again for a detailed response to my concerns. I greatly appreciate you clear writing and cogent views. It is comforting to hear that Hickey was, indeed, a tech bull and that while he may be suffering a little here that he has the will and the stamina to see this through. Also, he, as you, is conservative in his strategy, advising readers not to go short and to play LEAP puts. This is not a flamboyant "short the hell out of this ...." message. These views induce a degree of confidence. I still think am biased to short-term options as my thinking is that by February we will know a great deal about the extent of this problem. But, Hickey's play in LEAPS tells me that he is anticipating a sizable and long-lasting downturn. So, maybe I should put money on both of these horses. I would like to hear more about your strategies in these regards. I see today that AMAT and HWP posted better than expected results. This should fan the flames a little and give me some time to think out this situation. It is fun watching Dell trying to hang in there but being taken down a notch or two even in these crazy times. Thanks, again. Cheers!