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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Robert Douglas who wrote (166714)	6/20/2002 3:37:10 PM
From: BelowTheCrowd	Respond to of 186894

Actually, what I heard him say (on CNBC last week) was that he never was able to understand what factors would create a sustainable competitive advantage in a sustainable market. IOW, he's looking for two things: * A market that has the strength to stick around for more than 10 years. * A company that can clearly demonstrate that it has staying power in that market. * The ability to make a pretty good assumptions about both of the above, in advance. That's really hard to do in tech. Most markets have not been stable for dozens of years. Frequently changes in the nature of the market (or the disappearance of certain products) have completely destroyed previously dominant companies. His investing style doesn't work well in markets where creative destruction is a regular part of the business. mg