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To: pater tenebrarum who wrote (100899)	5/9/2001 1:29:18 PM
From: Dr. Jeff	Read Replies (2) \| Respond to of 436258

It's shocking that people this ignorant actually run money. Transamerica's Jeff Van Harte Talks Cisco I am buying Cisco based on a view that the company's long-term positioning in both the enterprise networking and the data telco side is extremely strong -- based on the concept that networking is likely to be a great business for Cisco for this year now that the channel is a lot clearer and the concept that data telco will be a good market for Cisco in 2002 and 2003 and for a long time after that. I am also buying Cisco based on the quality of the reported revenues which could have been $1 billion to 1.5 billion higher had they not deferred so much and had they used the lax collections procedure of the first two quarters. With that plus the clear of the channel I do believe that Cisco is positioned to beat numbers relatively quickly. Based on a belief that expectations are far too low, particularly on the margin line. Based on a belief that if my expectations for earnings are correct, that the company is trading at a compelling relative P/E on 2002 earnings per share. Finally, and most importantly, I am buying based on a belief that the supply of stock is not magically going to come out of the sky when everyone who is currently underweight tech now wants to panic and get overweight. I'm having a lot of trouble finding people who are overweight tech, so unless there is a public offering of Cisco in the future I'm not clear where the supply is going to come from.