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To: Softechie who wrote (50059)	1/25/2002 6:55:10 AM
From: Mr. Big	Respond to of 54805

EMLX is 12 times 2003 revenues...Talk about silly...

To: Softechie who wrote (50059)	1/25/2002 3:08:13 PM
From: Jacob Snyder	Respond to of 54805

re: What you're saying is that its (EMC's) stock price is way out of range? For EMC, it looks to me like 1996 was the last pre-Bubble year. Valuation ranges after that, and continuing till today, I consider "outlying data points", out there on the thin tail of the BellShapedCurve, data that should be ignored when trying to extrapolate past patterns into the future. The company confirmed this, IMO, in the last conference call, by saying they never again expect gross margins to get in the lofty area they reached in the Bubble. Disclosure: I am long EMC 2004 calls, which I bought when the stock was between 11 and 16 last year.