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To: taxman who wrote (5171)	3/17/2000 2:15:00 PM
From: steve mamus	Read Replies (2) \| Respond to of 8096

I strongly prefer GLW to JDSU at this point on a valuation basis. I own both but bought back all of my puts on JDSU when it hit 299 (and I believe subsequently 301). JDSU discussed on CNBC this AM. They pointed out what I have been implying for some time - JDSU valuations are stretched and I don't think it is a prudent play until billings and earnings catch up. Exception to this would be if the stock was really slammed on a general market basis. GLW has significant potential with earnings growth and multiple expansion. JDSU should have multiple decrease in my opinion and like the case of QCOM from 12/99 this needs a consolidation period. The stock (JDSU) is way over extended in my opinion. DoK