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To: TCGNJ who wrote (4691)	12/20/1997 10:40:00 AM
From: Gil Gilbertson	Read Replies (3) \| Respond to of 19080

It seems that everyone on this thread discusses everything except the most important factor, that being the management. 1. Is Larry Ellison a ceo who will sit still and not put in any creative leadership to regain the leadership position he has always enjoyed? 2. Does he surround himself with creative people who have track record of meeting and exceeding goals? 3. Does the company have the balance sheet and cash flow to bridge this temporary condition? 4. If the above bring a positive response to your judgement, then is the stock priced right for a buy rating at this time? Yankee Gil

To: TCGNJ who wrote (4691)	12/20/1997 12:11:00 PM
From: Ed Stern	Read Replies (1) \| Respond to of 19080

Hey TCG - Got to go -- Packers are on in 30 minutes and much to do, but just wanted to shot you a quick note on this. IMHO - You are absolutely right. I brought Intel in 2/95 when everyone hated it - earnings were supposed to be so-so, analysts thought it was an o.k. stock, but weren't recommending it. Stock was in the $50's from the $78-$80 area. Brought in at $56 and change, rode it to $116,,,, ain't bad for less than a year ! (this was before the split). I just brought AMAT at $26.50, now at the end of the week - it's $30. Too short term to say it'll work, but I don't see that much downside in it. Tech stocks are subject to this kind of treatment by the market so I like to buy them when everyone hates them. Brought some CSCO for my son when it went down this summer - up almost 50%. His college fund appreciates that kind of reward. The market usually rewards those with patience. Again, IMHO, the key is timing your purchases right - when no one likes them and they're already on 'sale' - like AMAT, from $54 to $26,,, earnings growing at 30-40% a year, tough to resist), buying decent quality companies (an ORCL, CSCO, AMAT, INTC, CPQ, HWP for some examples) that won't be going out of business anytime soon, and waiting for the markets to turn. You may not get the bottom, but I'm not trying, just near the bottom is fine for me, so downside risk, for good companies, is usually limited. This is just from my 12 years in the market experience. I've been happy with the results. Have a good day and Christmas. Maybe Santa is coming to Wall Street this week - we can only hope ! Ed