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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Bruce A. Thompson who wrote (10335)	1/18/2001 2:45:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 30051

I personally am taking CREE off the "quartet", my reasoning is quite simple, I do not like it when a company with a PE of 50 and a PB of 5 or more decides that they are going to "play" stock market and buy back their shares. That is one thing when a company like MSFT or INTC that has huge cash flow does it and a CREE which should use cash to develop new products and penetrate new markets. Their buy back decision may create a small blip here and you may get your $34, but I no longer like the company in general. (sure I am going to play with them from time to time like I did with VSH after a similar action last year). A company with that kind of valuations should be out selling stock to the public, not buying stock from the public. It tells me that they do not know what to do with their cash. By the way, I am back into CMRC at $21 flat, a nice discount of $3.125 to my last exit. Zeev