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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: BWAC who wrote (7473)	10/10/2003 9:27:33 AM
From: robert b furman	Respond to of 25522

Hi BWAC, Over the many cycles I've owned Cohu(an admitted small cap).I've noted current peak earnings vs,price. Up to 99 a top came in at 20 times peak earnings annualized. 99 gave us a gift with 30 - I'm not expecting that again. The big moving target here is peak earnings annualized. Mergers and marketshare gains redefine this every cycle. Your point IS THE POINT. Don't forget to sell at the top. It IS fair to say that the percent swings are so large that just the middle 60-80% of the total swing is huge when taken over a multiyear time period. We are early into the cycles peak earnings.An error here will be forgiving and not tax an investors patience too much. Buy the dips are great ADD TO points here.In a long term perspective. JMHO Bob Does a bell ring when its time to remember to sell???GG