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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Art Bechhoefer who wrote (91270)	1/4/2001 6:22:50 PM
From: Jordan Levitt	Read Replies (1) \| Respond to of 152472

Art, Interesting point about margin requirements...think of it this way ( actually warren buffett thought of this long before I did), how can it be good for an economy if someone can invest in a company that couldn't borrow a nickel right now based on its' credit worthiness from a bank, but then based on the market value of that stock, the investor can borrow against that (perceived value), to invest in yet another stock ????

To: Art Bechhoefer who wrote (91270)	1/4/2001 11:25:48 PM
From: Tom Kearney	Read Replies (1) \| Respond to of 152472

Art - isn't the whole 'book value' thing a canard? What is the appropriate book value for QCOM's patents, for example? Is it assigned an accurate value on the balance sheet? What is the appropriate book value of the Coca Cola trademark? Isn't the book value a carry over from the 19th century when the actual physical weight and size of production, steel, railroad cars, tons of coal, acres of land, etc., were a pretty good way of assigning value and worth? Isn't this inaccurate now? I'm not an accountant. This is just my understanding, and I am genuinely open to another opinion. I think many of your other points are accurate. eg, I think many new economy investors dumped AOL when the merger with Time-Warner was announced for reasons similar to yours. Regards, Tom