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To: StanX Long who wrote (11335)	9/1/2003 12:25:20 AM
From: StanX Long	Read Replies (1) \| Respond to of 95881

"OT" somewhat, but interesting, Stan. Japan, China, S Korea to jointly develop Windows replacement Sat Aug 30,10:29 PM ET Add Technology - AFP to My Yahoo! story.news.yahoo.com TOKYO (AFP) - Japan, China and South Korea (news - web sites) plan to develop an original operating system in a bid to challenge the domination of Microsoft Corp.'s Windows, news reports said. Trade and Industry Minister Takeo Hiranuma is to propose the plan when he meets his Chinese and South Korean counterparts in Phnom Penh on Wednesday on the sidelines of the ASEAN trade ministers' meeting, the Nihon Keizai Shimbun and the Asahi Shimbun said Sunday, quoting sources. The three countries are expected to reach an accord in mid-September, when senior trade ministry officials are to hold another meeting, Asahi said, and to establish a joint private-. The accord would be the first signed by major economies, the two dailies said. Under the expected tie-up, the partners are expected to improve open-source operating system, like Linux (news - web sites). The three countries are to set up a joint private-sector promotion committee in mid-November, to include Japanese businesses such as NTT Data Corp., Matsushita Electric Industrial Co., NEC Corp., Hitachi Ltd. and Fujitsu Ltd. The project is part of combined efforts to reduce heavy reliance on Microsoft's operating system, which they say has oppressed their business strength in the computer software industry. Japan, China and South Korea have also noted the risk of overconcentration of a single software product, they said. Computer viruses targeting Windows' defects have been rapidly proliferating, awakening global industry officials to the importance of reviewing reliance on Microsoft's operating software. To develop a Windows replacement, the partners will make improvements to Linux or other open-source programs, using their basic designs, and develop their own unique application software programs, including those for word processing and spreadsheets. The governments of the three countries will consider subsidising the project. If a new operating system is developed via the scheme, the three governments are expected to use it in some of their computer systems, they said.

To: StanX Long who wrote (11335)	9/1/2003 1:20:15 AM
From: Cary Salsberg	Read Replies (1) \| Respond to of 95881

RE: "New Bubble" 1. It is rational to invest in former leaders at very low relative prices when a significant economic recovery is at hand. 2. The volatility about the bottom was driven by momentum to the downside and is driven by momentum to the upside. 3. Since bubble conditions are not yet in place, it is prudent to expect that sooner or later price movements will more closely reflect business results and tangible indicators of future business prospects such as orders, fab capacity utilization, and movement of chip ASPs. 4. Investors should move from stocks that have been driven solely by momentum to stocks that have demonstrated either likely cyclical growth with leverage or likely long term growth. Take profits and move to quality as the recovery unfolds.

To: StanX Long who wrote (11335)	9/1/2003 12:13:21 PM
From: Kirk ©	Respond to of 95881

I love to read titles like this: Tech Gains Leave Money Managers Fearing New Bubble Now when they start to write that the business cycle is over for good like they did in early 2000, I'll have to conclude that the wall of worry has wheelchair access.

To: StanX Long who wrote (11335)	9/1/2003 12:40:44 PM
From: The Ox	Read Replies (1) \| Respond to of 95881

Tech rebound muted so far as recovery begins slowly Sun Sep 1, 11am CT By Michael Happel - a rebuttal to Nick Olivari Chicago (my kind of town) - Technology stocks have seen meager gains since the stock price rebound began last October and claims of a new bubble are so far off base that they hardly deserve mentioning. The deflated stock bubble prompted retail and institutional investors to blindly sell anything remotely related to tech --telecoms, semis, internet infrastructure and software stocks, all companies that were going to survive the downturn and still be viable businesses going forward. All of these companies were dumped mindlessly after falling to obscenely low prices. Pessimism was the order of the day and almost all companies in these categories saw their stock prices drop to frighteningly low levels. At the bottom of the worst bear market in six decades, the selling frenzy peaked in the face of a potentially strong rebound. "What's leading the analyst's community's fears of a new bubble is the fact that they don't understand statistics. Instead of saying a stock has recovered 3 or 4 % of their loses, most analysts get confused by the reciprocal statistic that indicates a stock has rebounded 200% or 600%. The question that most analysts should be asking is how many people were buying at the bottom and how many people have actually created 300% by their actions", said Michael Happel, individual investor, who has seen his trading portfolio rise 100% in 2003 by not listening to the investment community's analysts. Happel notes that looking at a statistic like MSFT is up 21% is only looking at one side of the coin and that many people have purchased MSFT at much higher prices. MARKET IS COMING TO IT'S SENSES There was a blatant disregard for viable companies at the October bottom. Companies like NT and LU, which had seen 99% and 98% of their stock prices disappear(or $60 and $80 per share), have seen roughly 6% or 2% of their net losses return to their stock's prices as of last Friday (they've recovered $2.50 or $1.25 per share of the $60). While these rebounds may appear large when looking at the percentage gained from the nadir, it is a small comfort for most owners of the stock. "The analyst community hasn't had a clue on where some of these companies are going in the future", said Mr. Happel. "These analysts only see the billions of dollars in writeoffs and losses these companies have had over the past 2 or 3 years. They fail to see how many of these same companies have repositioned themselves for future success, how their balance sheets have been cleaned up and that many of these companies have debt levels that are very manageable going forward." THE DEFAULT OPTION "Anytime an analyst sees a statistic like the 600% gain in Nortel stock they immediately default to their standard response: 'the stock has gone too far, too fast!'", stated Mr. Happel. "I was trading NT in Sept and Oct of last year and I know that very few were able to justify holding onto the stock when it was trading around 50cents. The stock would drop 10 to 20% in a day and the weak hands where being shaken out. Only a few traders picked up the stock at the bottom and a very small portion of those buyers have held on to the 600% gain seen by NT since Oct."