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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: lawdog who wrote (34512)	4/30/2000 11:49:00 PM
From: Eric	Respond to of 77400

Luck had nothing to do with Cisco's success. Many other companies had the chance and blew it!

To: lawdog who wrote (34512)	5/1/2000 4:41:00 AM
From: JDN	Read Replies (1) \| Respond to of 77400

Dear Lawdog: My comments before were not addressed specifically to CSCO but to the USA stock market in general. CSCO, I grant you is very expensive. I believe that is so because the investing community believes that its future growth rate is so guaranteed as to make it worth a significant premium. Technology is so advanced, and moves so rapidly, that I myself am in no position to argue that one way or the other. I believe that you either trust the management of CSCO to be on top of things to adjust to changing conditions or not. That is an individual decision. Now, as to the market in general, IMHO the USA is in an enviable position vis a vis the rest of the World. All the people that I have spoken with who have travelled extensively overseas and work there have told me we have AT LEAST a 3 year lead in Technology in Europe and way beyond that in the Orient. We also have a substantial amount of venture capital, and efficient means of employing it to exploit that lead. So, it is my opinion that the USA will continue to grow substantially in excess of many foreign markets. It is this growth that fuels the values in the stock market here. I am old enough to remember when it was otherwise and then, due to the Marshall Plan and Japanese reconstruction, they often were felt to be the faster growing economies and their markets performed above ours. Now the worm has turned and its our opportunity to shine in the light. So in summary, in general, I am very optomistic as to the next few years. Add to that the fact that our Govt not only now has a relatively balanced budget but we are actually paying down the debt. Since the Govt. is the largest borrower, the freeing up of these monies to now flow into private capital should create an even more positive boost in our economy. So, Lawdog, I would say to you, its OK to feel good about your country. JDN