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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Hank Stamper who wrote (10494)	5/24/2000 11:35:00 PM
From: Wyätt Gwyön	Respond to of 24042

I don't know if you're a bear. If somebody wants to be one, that's fine with me. But if you follow the logic of what bears are saying (which logic you could've followed unprofitably at almost any given point in the last, oh, eighteen years), one would be led to expect a bear market lasting fifteen, twenty years (I think that's what Buffet said). If a person really believes that will happen, then it seems like a waste of time to try and swipe a few nickels in front of the ursine steamroller. One would be better off in other assets. Since you take the time to post on this thread, I'd guess you're a closet bull even though you tend to post "bearish" stuff. I'd guess you want to have your high tech cake and eat it...at 30% off or whatever (60% off??)...in any case, to get stocks like JDSU and CSCO down to a DCFA value level that would keep Graham & Dodd from spinning in their graves, they would need to get much, much, much cheaper. The kind of cheap that would happen in a world where nobody looks at SI--not bulls, not "bears". Aintgonnahappen, IMHO. And in their heart of hearts, most "bears" don't think it's gonnahappeneither. So they're not really bears, just "timers". The majority of which are going to come out behind, if Mr. Murphy and his Law have a say in it.