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To: shane forbes who wrote (8161)	12/6/1997 2:24:00 PM
From: jelrod3	Respond to of 25814

Shane, I agree with virtually everything you have to say in your post. I, too, believe that the future is in technology and communications, and have heavily weighted my portfolios in this direction. Biggs made his pronouncement on March 18, 1997. I saved it, because I, too, consider him to be somewhat of an alarmist. No question that excess capacity and too much inventory was well known to exist at the time he spoke, especially with regard to semiconductors. Biggs, however, was more expansive, and was talking about the entire tech sector. He believes the sector is cyclical, and that we are heading into a tech recession...from which we will eventually emerge after a few years, etc, etc. It is hard for me to believe this, especially with the communications revolution just waiting to occur in the rest of the world (heck, some 70 to 80% of the planet does not have voice communications yet). But when one company after another began to pre-announce over the past several weeks, and you see basic sectors like ANDW floundering not to mention all of the networkers except CSCO, and you hear that PCS demand/buildout is slowing, it makes you wonder if Biggs is not on to something that the rest of us, for whatever reason, do not want to admit. Even if things do hit the skids for a couple of years, and we don't make much money as investors during this time, we all know that the upturn will be inevitable, and that the patient long term investor who selects and sticks with good companies will be rewarded. So, I'm with you! Best regards and all good wishes, Joe E