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To: bill meehan who wrote (93823)	4/13/2001 10:43:55 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 436258

Bill, with all due respect I have a difficult time to "invest" in a company that is priced more than 10 times it's near term earnings. Trading in a stock it a complete different issue, and it is mostly defined by the holding period, which is up to several months. Now investing in my book is something you hold more than a few weeks or months. The more recent telecom and other High tech debacle only proves the point that discounting future anticipated earnings are pure fantasy of those trying to justify higher stock prices. I do not think that any serious business man in the high tech world would sencerely believe his own projection. Long time ago I was told that the great thing about projection on paper is the fact that the paper you write on does not talk back, and there is always an eraser. <GGG> Haim