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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Cathi Wierzbicki who wrote (23729)	6/25/2005 12:16:06 PM
From: Cary Salsberg	Read Replies (2) \| Respond to of 24042

RE: "To quote the CEO, Kevin Kennedy, they are "reinventing" JDSU." You wrote a long post and there is much to respond to, but I thought this quote was the best place to start. Do you know what Mr. Kennedy will walk away with if he fails to "reinvent" JDSU? Do you know of any company with 1.5 billion shares and less than $200 million quarterly revenue that has been "reinvented". Why not wait until there are real signs that revenue can grow to $1 a share or, better yet, until it actually gets there, profitably?

To: Cathi Wierzbicki who wrote (23729)	6/25/2005 3:02:56 PM
From: CFA	Respond to of 24042

<<Many investors tend to mistakenly extrapolate whatever the current situation is into the future. That blinds them to deteriorating situations or improving ones. They just keep projecting what has already happened into the future.>> I agree completely with your comment. In fact, I said essentially the same thing right here: Message 21419215 Although people would agree in theory that stocks should be purchased low and sold high, they invariably do the opposite, based on (1) False extrapolations, (2) Buying into media hype/frenzy, (3) Lack of independent thinking, (4) Lack of patience. In my own case, I focus on companies driven down to multi-year lows based on these types of false extrapolations and that have good balance sheets and cash flow. During the past 12 months or so, I've picked up STX @ $11s, WDC @ $7s: Message 20439568 NOK @ $11s: Message 20345222 BBI @ $6s: Message 20547823 PFE @ $23s: Message 21006592 And the list goes on. As a special mention, there's currently a jackass who's touting GOOG at $300 as a long-term buy & hold. If this isn't the model example of stupidity and buying high, then I don't know what is. Message 21401709 Message 21406958