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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: vegetarian who wrote (28448)	12/20/1997 11:31:00 AM
From: sam	Read Replies (2) \| Respond to of 61433

I'd add LEH to the list of contrarian indicators.

To: vegetarian who wrote (28448)	12/20/1997 5:47:00 PM
From: A. Fineigler	Read Replies (1) \| Respond to of 61433

Hi M., The analysts are for the most part people who have never run a business or even had a substantial role in one. MBA's hired straight from school, good at taking exams, smart in their own way, but lacking business acumen. They also generally don't understand the industries they follow too well, thus the frequent bad calls on stocks and industries. For this they get paid six figure salaries. Go figure. Using them as contrarian is a little dangerous though. As a breed they are not consistently wrong (or right) enough to be useful as an indicator IMHO. Some individuals are, of course. I give them about the same credence as taxi drivers and strangers at parties - if they are vigorously stating a position it might be worth researching, just in case. Re Ascend, some time in the next 6 months there will be likely be a sudden realization that things are not as bad as the sellers had thought, and an overreaction to the upside. AF