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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Cary Salsberg who wrote (43762)	3/14/2001 5:54:57 PM
From: Jerome	Respond to of 70976

Competent Harvard MBA (QED - degree conferred) Aren't there a bunch of MBA analysts that were giving us buy ratings on AMAT when it was near a hundred, and sell ratings when it was below 40? I'd be cautious about mixing achievements, and accomplishments with competence. My dog graduated from obedience school at the top of the class, but I wouldn't call him (Border Collie) him competent. :) Jerome

To: Cary Salsberg who wrote (43762)	3/14/2001 6:02:00 PM
From: Fred Levine	Respond to of 70976

I must admit no understanding of the market. We attributed the initial decline to uncertainty abt the elections. Then came the disputed result, more uncertainty. When that was resolved -- however unfavorably <lg>- I expected a large rebound, especially with a republican who favors the wealthy. Now, I don't have the slightest idea what the hell is going on, and I know I'm not alone. I see no agreement of analysts-experts. In fact, Merrill had a full-page NY Times (and I'm sure other papers) ad advocating the strength of the market. I did a lot of good. Certainly there is weakness in Japan and energy costs are high. Certainly Bush didn't help by badmouthing the economy, but the decline in confidence seems quite disproportionate to these events, It seems to becoming a self-fulfilling prophesy in that capex is declining because the creeping fear that is overcoming the economy. Yet the economic statistics reveal a slowing, but not a recession. Yet luxury items are selling, real estate in the NE has had modest decline. Still, the market, is dropping in an, to me, incomprehensible way. On the plus side, AMAT has floated in this toilet bowl market, clearly against the flow. I don't want to push my metaphor too far. fred

To: Cary Salsberg who wrote (43762)	3/15/2001 3:18:33 PM
From: mitch-c	Read Replies (2) \| Respond to of 70976

OT - tiresome character dissection Yes, I set the definition of competence - though not necessarily excellence - as having successfully accomplished the tasks. I would contend that the burden of proof (not just allegation) of incompetence in the cited areas rests with you. BTW, I stand corrected - Bush flew F-102's, not F-106's in the TANG. Also, while I'm at it, the words I dissected appeared to imply a dependent relationship - first budget, then taxes. I may have been sensitized by Gephardt's somewhat mufflered language; if you recognize that all approaches are equally legitimate, I'll withdraw that critique. Regardless of politics, Cary, I think we actually share a lot in common. I think you have a more disciplined approach to the current market than I do, and I appreciate your sharing your thoughts here. - Mitch