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To: Tom M who wrote (54638)	1/5/2001 1:42:50 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

Tom, i've traded LU once recently, but have no position right now. it remains on my radar screen however - eventually it will be a good long term buy, as it is unlikely that it will go under. but there are still many unresolved issues in the telco equipment industry, and it'll take a while before they dig themselves out of the hole they're in. it is definitely NOT trading close to book...that's about $8 or $7 like you say. besides, one has to be VERY careful with tech co. book values - always take a close look at the balance sheet and check how much goodwill/intangibles are involved to arrive at the book value. often book value will be misleading, especially with the new era techs. to summarize, one could possibly nibble here for a brief pop, or even to establish a pilot position for the longer term - but there's likely no hurry. building the bottom will be a process, and it may well take quite a while.