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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Mike Winn who wrote (2056)	12/11/1997 6:38:00 PM
From: Jim Cash	Respond to of 60323

Thank you. I was beginning to forget the reason I bought this...

To: Mike Winn who wrote (2056)	12/11/1997 7:06:00 PM
From: limtex	Respond to of 60323

The reasons for getting in were formulated for the most part before Korea (Pt II - incl. the scene where the borrower turns to the banker and says " I'm very sorry and I know I agreed to a $60bn loan last week but we need another $20bn or $30bn more today and maybe more next week. The accountants got it wrong") Now we're in a whole new World of maybe no recovery in sight.Nothing poor Elli can do ...no good lending SNDK's $90 to Korea. Nothing anyone can do with this level of bad debts. What we have to decide is one thing: Whether to call it a day now with whatever loss or to sit it out and wait through what could be a very long period of deflation. The last time it took from 1930 to the mid seventies to make a profit in real terms. Even if the markets love affair with techs hadn't ended (which it now clearly has) then two things are now happening:- 1. Valuations are going to be severely downgraded ( PEs of 5-8 max) and 2. Even good or brilliant results from anyone (maybe including possibly soon the blue chips) won't excite any material buying interest. I hope I'm wrong. I still think this company has amongst the best prosepects I've ever seen but what are we going to see tomorrow - $15?