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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Leader who wrote (82494)	7/21/2000 1:48:46 PM
From: Earlie	Read Replies (1) \| Respond to of 132070

Jeff: As noted earlier, Fidelity and Capital between them own almost a quarter of Micron's issued stock. Capital spent on average $18.0 million per day buying MU last quarter, and that in spite of the fact that everybody knew a big dump was forthcoming from TXN and INTC. Question: Say a fund manager somehow came to believe that MU was worth buying. Wouldn't a prudent money manager hold off buying and let the expected heavy selling knock the price down so he could acquire his stock at a much lower price? Why stand in the firehose blast? Sort of leads one to a couple of conclusions, doesn't it? - Protection of the price of a "too-big-to-sell" position? - We all own tons of Intel. Intel will report good numbers if they can "off" their MU holdings. Lose on the bananas but gain on the oranges. - We have to put this incoming flood of dough to work somewhere. MU is very liquid. (g) All I know is that a fund manager buying MU at current prices isn't motivated by fundamentals. Best, Earlie