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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Doug who wrote (75125)	4/17/2001 11:22:28 AM
From: waverider	Read Replies (2) \| Respond to of 99985

Doug and Haim... Regarding the overvalued PE for the semi's...since they are cyclical, the old saw goes buy when the PE is high (due to failed earnings). I am wondering what your take is on this. <H>

To: Doug who wrote (75125)	4/17/2001 11:28:29 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 99985

Doug there is no question that there is a substantial disconnect between reality and fundamentals and stock prices. But judging by the recent past this disconnect lasted for the last several years. The very effective brainwash campaign of WS is very lasting and hopes are eternal, as such I can not formulate a viable approach to investing neither on the long side or the short side. Today's NAZ action after CSCO write off of $2.5 billion or all of it's inventory as of Jan 27, 2001 is quite telling as to the irrationality of this market. A asset loss of $3.7 billion is staggering for any company but still it seems that nobody cares. Money value in US companies, it seems are just numbers no real value. Haim