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Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (9494)	8/1/2001 4:57:58 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 208838

marsh exciting times in the markets eh? nap time... later

To: 2MAR$ who wrote (9494)	8/1/2001 5:00:33 PM
From: $Mogul	Read Replies (4) \| Respond to of 208838

RealMoney.com Negative Comments 7/31/2001 James J. Cramer (Author) about PMC-SIERRA Bearish Reasons: The company just filed for a $225 million convertible subordinated note, according to James J. Cramer, director and co-founder of TheStreet.com. He believes the firm "knows its stock is overvalued given the near-term performance, and it wants to take advantage of that overvaluation by cashing in." However, "there are costs associated with convertible subordinated notes and the signals management sends when it issues one of these is just as obvious as if it were to issue equity: It needs money." Also he thinks "it needs the money because even if inventories are lean at the Ciscos they won't be built back up anywhere near where they used to be. Which means that on an earnings basis [the stock] is still ridiculously overvalued."