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To: Czechsinthemail who wrote (23537)	1/5/2001 3:39:03 PM
From: ram_s	Read Replies (1) \| Respond to of 118717

Baird: thanks for mentioning INAP. I really liked this company and made money on it when it jumped last year in June but strangely it sold off hard from those levels very quickly. I then lost my shirts on adding calls to it. I will ask that you be cautious in this environment about "stories" and go for real companies with real earnings. On a simplistic note: who cares when profitless companies become profitable when we have real companies with real earnings right now that are trending towards zero (MSFT, DELL, AMAT, etc). I am being facetious here but the point I make is serious. I have had a +10% return last year but that was due to looking at valuations using spreadsheet models. It had nothing to do with "stories". In fact, I shorted a lot of "story stocks" when the tide turned against them in September. I ask everyone here to be serious about valuations. INKT today is priced at $12 and you know what it's valuation is like? $6. So, though INKT is cheap compared where it was ($120), it is getting cheaper... You have helped me in the past by pointing out some mistakes in my assesment about companies such as MKSI. I would like to return the favor by pointing out some investing pitfalls that you need to be aware of going forward...