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To: dbblg who wrote (110060)	10/9/2000 11:48:02 PM
From: GST	Read Replies (1) \| Respond to of 164684

Ganesh: "people who seem to buy like traders and then hold like Warren Buffett" Good point -- like deer caught in the headlights. It never ceases to amaze me when people "buy high" how much faith they put in the idea that if a stock was up in the ozone layer once, it will probably go back up there again. Good luck.

To: dbblg who wrote (110060)	10/10/2000 12:09:53 AM
From: dbblg	Respond to of 164684

oops, just got e-mail from someone seemingly offended by my post. If it helps, I learned the lesson the hard way about 3 years ago. Bought Cascade Communications based on glowing reports from networking/telco engineers and with little thought to valuation. (Or rather, felt there was no chance that it would ever trade down to what I considered a reasonable valuation and decided to go with the flow.) Held as it imploded, held the shares I got when ASND bought it, held those as they imploded. Cascade's technology turned out to be quite valuable--many cited it as the motivation for LU's eventual purchase of ASND--but the average price I paid for my shares discounted that and then some. Though I still often buy stocks at what I consider to be unreasonable valuations, I treat such purchases as trades, and tend to cut my losses very quickly. While this has resulted in my leaving a lot on the table (I cringe every time I pull up a JNPR chart) it also meant I survived some of the nasty sector- and market-corrections (like software last year) with enough capital to buy after some of the excesses had been wrung out. HTH, and again, sorry if I rubbed anyone the wrong way. I know this has been a trying couple of quarters for many people. Ganesh