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To: UnBelievable who wrote (39482)	11/20/2000 7:51:26 PM
From: patron_anejo_por_favor	Respond to of 436258

Nice Rap today. Fleck discussed the disconnect leading to the unfathomable green we saw today on IBM and INTC: Putting your money where their mouth is. . . In the early going both Intel (INTC) and IBM (IBM) managed to turn green. Apparently they were reiterated as buys on "Wall Street Week" and another weekend TV show. There is no shortage of "strategists" who keep recommending IBM and Intel because they are "cheap." If you ask me, nothing could be further from the truth. As I have long maintained, and as regular readers know, I think these two will become classic business school studies of how companies were ruined by focusing on trying to keep the stock price up, as opposed to paying attention to the business. When you strip the wampum gains out of Intel, you find that the multiple goes from about 25 to about 35 times earnings, which doesn't even take into consideration how bad the business is going to be prospectively.