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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (44708)	12/18/2000 8:47:26 PM
From: John Pitera	Respond to of 77400

I've seen both schools of thought on AV and what it will do going forward. LU wanted to get rid of lower margin businesses so that they could compete with CSCO and NT on the profile of revs and earnings. no way to compare CSCO, NT, with companies like AV or insurance companies like ALL, or MET, or MO and RJR the issue is that you can lose half of your money in 9 months in downdrafts in valuations while making 50 and 70 % returns in companies with PE's of 7 or selling at Book like ALL was at 18 in early march. IF AV continues to lose money over the next 4-5 quarters, it will make earnings estimates look like even more of a joke. I don't know if I belive the AV numbers either. thanks for your input. John