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To: At_The_Ask who wrote (145409)	1/23/2002 12:34:20 AM
From: John	Read Replies (1) \| Respond to of 436258

Something may actually be done to reduce foreign oil dependance this time. Got cold fusion? Now, if you've stopped laughing, you should really know that many smart minds are certain cold fusion is a reality. In fact, since Pons and Fleischmann in 1989, cold fusion results have purportedly been reproduced countless times around the world. One line of thought is it will be a long wait until a commercial CF product sees the light of day, because there simply is no impetus for the fossil fuel empire to permit such an intrusion. Admittedly, the mainstream line of thinking is that CF is fiction, and the assertion that CF is being covertly held at bay to appease the fossil fuel and conventional energy magnates of the world is paranoia. Of course, history will reveal who is correct. John

To: At_The_Ask who wrote (145409)	1/23/2002 10:19:50 AM
From: reaper	Read Replies (2) \| Respond to of 436258

<<With you on energy. Seems to be a decent contrarian play at this point>> AtAsk I do not THINK that energy is a "contrarian" play at these levels. As I reported several weeks ago, every year Barton Biggs and Byron Wein (Morgan Stanley) do a big shindig for their big hedgie clients, and they report on the "consensus" findings from that meeting. One item that received the greatest consensus from the hedgies was that ENERGY was going to be a good stock play in CY02, especially "gassy" names (i.e. those tied to natural gas). I would also note that an energy play with which I am intimately familiar, Patterson/UTI Energy (PTEN), which is valued at +/- $4.5mm per owned rig, just completed a private market transaction in which they acquired 17 rigs for a mere $1.5mm each. Now I know an operating business with good mgmt (which PTEN is) is worth more than the sum of its assets, but 3x more seems a bit much to me and indicates a LOT of recovery is already priced into the stock. Not saying that there aren't reasons to own energy, from dividends to a hedge against war/unrest in the Middle East. I just don't think that its "contrarian" right now. Cheers