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To: Bill Harmond who wrote (93545)	2/15/2000 12:05:00 AM
From: Victor Lazlo	Read Replies (1) \| Respond to of 164684

All in good fun; Jan's congrats, 89520 Kearney sold off, 89544 Kearney looking for big correction 89548 William sponsors view of 25% SP500 correction, 89553 Sonny hangs tough, much to his credit, 89561 Eric questions the Saint, much to his credit (Eric that is) 89563 William - "...because I think I can buy it back later for less than I sold it for, and I don't think this Internet move can last while the financial sector is in trouble. " But it did. 89577 Further perplexia at William's sell-off 89635 Rose 60% cash 89646 Eric again questions the Saint, few rational responses; 89649 Eric sees what William missed (but what may have made William come back in of late), 89695 Daglo falls for the bait, 89726 Victor buys CVCI at 9 3/8 89731 KIS denies the realities of the world that his senses convey to him, 89783 Hysteria reaches fever pitch, 89788 Higher fever pitch, 89793 Lazlo offers some sanity, 89907

To: Bill Harmond who wrote (93545)	2/15/2000 12:09:00 AM
From: Randy Ellingson	Read Replies (1) \| Respond to of 164684

William- I hope I'd be the last person to question anyone's performance, and I'm not trying to do that here. Essentially this post ought to have come earlier, but I'm wondering about your apparent market-timing decision near the year-end/year-beginning. I still think that the approach of buying and owning the best companies, and keeping them through the market's (and the Fed's) motions is the best investment strategy for those with the intention and time horizon to comfortably own a company for a long period of time.* I don't see the Fed's action as a market indicator, but more as a guide for the economy who is actually on the stock investor's side. They want steady growth, right? Should be good for us. Of course the market will still slide, and sometimes for long periods of time. *This is certainly not to say stocks don't require selling, and at times unexpectedly early, and for a loss. Those are the mistakes, and seem to be no big deal when dealt with in a timely manner. And my belief in that approach (buying what I see as the best companies, and holding them) will certainly be tested when the market does go south, and stays there for years. It'll then be time to use more research and conviction that today's market demands. Randy