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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Henry D who wrote (65177)	7/28/2002 10:06:31 PM
From: Cary Salsberg	Respond to of 70976

Fundamentally, I don't believe AMAT, KLAC, and NVLS are the same companies they were in 1996. I believe they are in much stronger competitive positions and will emerge from this bubble aftermath even stronger. I don't think 1.5 P/B got me all the AMAT, KLAC, and NVLS I wanted in 1996. In fact, I think I paid closer to 2 P/B for what I got. I am not persuaded that this is a "horrible bear". Certainly, the technology stocks have been hit hard, but most is a correction from bubble excesses both in business and the market. My price ranges reflected reasonable value for companies I want to own. I am watching my stocks falling through my ranges, and it is not pleasant, but just as I advised selling SDLI at $200 prior to its rise to $450 (now worth ~$8), I expect to miss the tail ends of excesses.