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Technology Stocks : PMC-Sierra (PMCS) -- Ignore unavailable to you. Want to Upgrade?

To: Beltropolis Boy who wrote (3510)	5/25/2000 3:05:00 AM
From: John Farrell	Read Replies (1) \| Respond to of 3818

Today on RadioWallStreet Robertson Stephens' Arun Veerappan picked PMCS as his favorite semiconductor stock. Nothing new here as he's been bullish on PMCS for quite a while. He made the comment that in 5 years, PMCS will *easily* be a 5-bagger from today's $135.25 closing price. Obviously that's much farther in the future than can realistically be forecast, as well as much longer term than most investors will hold a stock. I think it was about a week or so ago on CNBC that I saw a story on the sharp decline in the length that a NASDAQ stock is held. I don't remember the exact numbers but it was something like 3.5 years 10 years ago down to about 3-5 months presently. Of course, what has to be considered is that investing for the "masses" has changed dramatically in those 10 years with the advent of Financial networks (CNBC, CNN Fn, Bloomberg, etc.), online brokers (E-Trade, Ameri-trade, etc.), investment "chat lines" (Silicon Investor, Motley Fool, etc.) as well as other "instant" information sites around the Internet. Add to that a 10 year long bull market and the psychology of the average investor is quite different now than it was then. It seems like more and more "investors" are sucked into the "Lottery Effect". That being looking for the instant windfalls that they've heard about from friends, the newspapers, financial networks such as Qualcomm's 20 bagger for 1999 (or PMCS's 5 bagger). Earlier this year (before early March), a friend of mine said they were selling their Nortel stock that they'd held for less than 4 months to buy AMCC because he would have done considerably better over those 4 months had he been in AMCC. Just a little crazy to me. -John