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To: Jacob Snyder who wrote (9098)	9/7/2001 5:46:21 PM
From: Murrey Walker	Respond to of 10934

Jacob...you're absolutely right. No silence here. As a friend (Voltaire) on another thread says, "this is where you make your money". I to(G), am in a buying mode.

To: Jacob Snyder who wrote (9098)	9/7/2001 8:20:05 PM
From: gh	Respond to of 10934

Jacob, OT: Although your post was directed to Uncle Frank, hope you don't mind me responding. <<Everyone stunned into silence?>> Nope. Holding strong. This market has taught me patience and to have the long view. Bought some QCOM premarket today and have a few lowball gtc limit orders in for some other companies. Good luck to you in your trading/investing. Your posts are always interesting and well reasoned.

To: Jacob Snyder who wrote (9098)	9/7/2001 11:42:12 PM
From: techreports	Read Replies (1) \| Respond to of 10934

(investors) illogically become euphoric when stock prices rise and unhappy when they fall. They show no such confusion in their reaction to food prices: Knowing they are forever going to be buyers of food, they welcome falling prices and deplore price increases. (It's the seller of food who doesn't like declining prices.) The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer. None of this means, however, that a business or stock is an intelligent purchase simply because it is unpopular; a contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling. Unfortunately, Bertrand Russell's observation about life in general applies with unusual force in the financial world: "Most men would rather die than think. Many do." Yes, but if food prices fall because the food is spoiled or damaged or has a deadly virus then it doesn't look like a great bargain anymore. Chicken at a 50% price cut doesn't look so good if it has a deadly bacteria? I doubt you'd take the chicken for free. Same with stocks.. Company fundamentals have changes. People are now concerned about a recession with a possibility of it lasting 2 or 3 years. Not saying your wrong. I'd love to see the market and the economy rebound in mid-2002, but no one really knows.

To: Jacob Snyder who wrote (9098)	9/8/2001 12:56:55 AM
From: Elroy	Respond to of 10934

In the last few days, I've gone from 40% to 10% cash, initiating or doubling up on positions in QCOM, CSCO, EMC, and TXN Wow! Good luck man, but you are a risky investor..... QCOM - 17x last year's sales, forward PE about 38x despite growth expectations of about 25% per year. CSCO - 5x last year's sales, no earnings, sales shrinking. EMC - 4x last year's sales, no earnings, sales shrinking TXN - not so familiar with their story If revenues don't pick up significantly at the latter two companies, you might lose your shirt!

To: Jacob Snyder who wrote (9098)	9/8/2001 1:01:23 AM
From: Uncle Frank	Read Replies (1) \| Respond to of 10934

I very much appreciate you addressing that to me, Jacob. It's clear that WB was addressing times exactly like these, and that the key element will be picking the right stocks. Sound like Gorilla game time, and it looks like that's just what you're doing. QCOM - Gorilla of cdma, and soon, wireless data CSCO - Gorilla of internet infrastructure EMC - King of SAN TXN - (arguably) King of dsp uf

To: Jacob Snyder who wrote (9098)	9/9/2001 11:23:33 PM
From: Gottfried	Read Replies (1) \| Respond to of 10934

Jacob, that's all well and good but Buffett would not have made the buys you made. And we know why not. Gottfried

To: Jacob Snyder who wrote (9098)	9/10/2001 4:45:28 PM
From: David W. Taylor	Read Replies (1) \| Respond to of 10934

Put this next to that quote in your manual. Shoppers, some of whom are investors, do not pay $3,000 per loaf of bread. They look at the overall price of a commodity and pay the best price for the value received. A decent loaf today, fresh baked, should cost less than $3. QCOM, CSCO, EMC, and TXN are all as expensive today as a $3,000 loaf would be. Do your fundamental homework!