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

To: William Hunt who wrote (34715)	5/6/2000 9:45:00 AM
From: Curtis E. Bemis	Read Replies (1) \| Respond to of 77397

Thank you, William, for posting the Bear-ons stuff. I was not going to purchase it. Notice the sloppiness in Part 2 ?? (b instead of m) ArrowPoint ought to have sales approaching $146 billion.

To: William Hunt who wrote (34715)	5/6/2000 9:47:00 AM
From: Z268	Read Replies (2) \| Respond to of 77397

Cisco's acquisitions. The crucial question is: Can a company like Cisco perform better (i.e. stay at #1 or 2) through acquiring products, or developing 100% internally? It does not take a genius to know what the answer is. This article smacks of writing to a pre-conceived objective - cut down the next tall poppy. However, I agree that Cisco is overpriced relative to the market, and am personally looking to lighten up shortly. The stock has been the best performing of my portfolio. Steve

To: William Hunt who wrote (34715)	5/6/2000 11:35:00 AM
From: Mehitabel	Respond to of 77397

WH-- thanks for sharing the Barron's article with us. As I'm sure everyone recognizes it's just another rehash of many other tut tut bearish articles. They should be embarrassed to contribute so little "added value" themselves, imo. But it certainly will stimulate and sustain the bears for 6 months or so at least. I loved this particularly astute remark: >>If Cisco sold at the multiples of its competitors, investors would be shocked. If the market valued $1 of Cisco's earnings the way it values $1 of Nortel's earnings, at a multiple of 100, Cisco stock would be selling for $35 a share. If it could command Lucent's multiple of 46, Cisco's share price would be around $16.<< What is it they say? If pigs could fly... and this one >>How much does a company have to earn over the next 10 years to warrant a multiple of 190? By the old-fashioned one-to-one rule of thumb, matching the growth rate with the P/E ratio, earnings would have to grow 190% a year.<< If you had a reeeeeely good argument, you wouldn't have to fudge by using last year's data. And then there is the NEWS! that acquiring companies means taking on risk. Sigh! Wish I were clever enough to think of those things. Thanks again. Best regards

To: William Hunt who wrote (34715)	5/6/2000 12:52:00 PM
From: The Phoenix	Respond to of 77397

Thanks William!! Thanks so much for giving us the heads up. Seems to me like the writer is missing a number of points and has, in effect, discounted his/her own position. The question is, if NT or LU had growth rate consistency like a CSCO what would they be trading at? THere are too many holes in the piece to go through them all but let's just hope some investors take it to heart and sell so I can add at a discount before Tuesday. I can only hope! I'll tell you what is most shocking.. that the editors at Barrons would actually print such a shoddy piece of work. LOL! Are they going to look bad on this one. LOL!! OG