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To: AllansAlias who wrote (2738)	7/9/2000 2:32:15 PM
From: Joan Osland Graffius	Respond to of 436258

Allan, >>There is an assumption throughout the moderated discussion that one is stupid (for lack of a better word) not to see the real story. As a student of trading psychology I am drawn to this oft'-repeated scenario. Yes. I had a friend that during the internut mania that got caught up in Ariba craze. Everyone where she worked said this was the greatest software to hit the face of the earth. She asked me about buying the stock and I gave her my thoughts on value. Well she bought very close to the top and of course now she has an investment gone bad. I know she was looking for a quick buck and an early retirement. I am convinced that she would have lost this money in some other way if it would not have been in this mania. Someone else would have come along and convinced her there was a quick buck to be made and she would have gone for it. She has now learned her lesson and is now buying CD's. Joan

To: AllansAlias who wrote (2738)	7/9/2000 4:39:45 PM
From: tekboy	Read Replies (1) \| Respond to of 436258

I have no informed opinion of the Q. As an impassioned observer I was struck by the following three things: 1. The faith people were showing in the good Dr. and the management. 2. The assumption that the story is far better than the market is discounting. 3. The clown-like approach to trading the Q, i.e., "Buy it and grow rich." perhaps if you had an "informed opinion of the Q" you would understand why intelligent people have "faith...in the good Dr. and the management," why they believe "the story is far better than the market is discounting," and why they believe that buying and holding the Q over the long term is a sensible way to go about increasing one's wealth. The fact that lots of other people have been and still are irrationally exuberant about lots of things says nothing about whether that is happening here with Qualcomm as well; your mistake is a classic example of what is called the ecological fallacy, reasoning blindly from a group (bullish tech investors) to specific individuals within the group (Qualcomm investors). Nothing, by the way, that boning up on Q (the moderated thread is the best place to start) couldn't help you with... tekboy@ridi,pagliacci.com