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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Boplicity who wrote (61301)	1/10/2000 10:16:00 PM
From: SOROS	Read Replies (4) \| Respond to of 152472

My "new" brain says this is a new economy, baby boomers have so much money that automatically goes into 401K's each month no matter what, internet changes all the rules, earnings will be blockbuster everywhere, etc. My "old" brain says valuations are absurd, PEs do matter, sales closer than 10 years matter, internet is addition to economy but not entire economy, market severely punishes merely good earnings and axes not met earnings, market has become a casino where greed totally rules, etc. I guess this old duck can't take the heat. Old brain wins. With so many numbers coming out on Thursday and Friday, possible earnings of some companies maybe not being outstanding, and the total fickle nature of this market, I now sit on 98% cash. I know pigs may get slaughtered, but in recent years they have only gotten fatter and fatter. Last time I went to cash it only cost me a lot of money left on the table, but that picture of the big, fat farmer's wife with knife in hand chasing that now so fat pig that she can actually catch him gives me nightmares. May you all be pleasantly full and not have to lose 2/3 of your market lunch before the pain subsides. Had Joe "Baby Boomer" Investor eaten a little more slowly, I'd stay and have dessert, but his total disregard for table manners makes me stop after the main course. Good luck to you all. I remain, SOROS