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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Tulvio Durand who wrote (11896)	12/24/1997 1:16:00 AM
From: Curlton Latts	Read Replies (4) \| Respond to of 25960

Tulvio D: CYMI needs to jettison Morgan Dean Witter as its lead investment banker and enlist the services of an investment banker that will direct them towards share buybacks and other corporate finance maneuvers designed to enhance the tremendous shareholder value that continues to grow for the Company. Perhaps a Goldman Sachs, a Lehman or a Donaldson Lufkin Jenrette would be appropriate alternatives. Morgan Dean Witter is just too financially married to their own selfserving wrongway financial commitments to give any real, objective financial advice (and of course Morgan Stanley as it once was defined no longer exists). If this happens I think you will see a possible share repurchase program implemented with very positive implications for the stock. The really ironic tragic-comedy for Morgan Dean Witter in all of this is the hysterical boneheaded mistake they have made with respect to their investment calls on Asia combined with the flip-flop backtrack Barton Biggs (their chief investment strategist) is trying to accomplish with all of the dire predicitons on the Asian flus effects on our markets. Mr. Biggs has for ever and a day (translated as YEARS) wrongly predicted that US equities were not the best of investment alternatives. His strongest buy recommendations have been GOLD and Emerging Asian Markets!! He has been recommending to all that Asia was the place to put all of your excess investment dollars. What a joke. As recently as March of this year he was still assuring clients that "the Asian Way" is for real, referring to the region's economic miracle. And South Korea is certainly "not a Mexico in the making", Biggs maintained in March, referring to Mexico's economic and market debacle in 1995. Well Barton, no, South Korea isn't Mexico - it's worse, at least with respect to relative market declines (50%+). Now - do you think Morgan Witter was buying US equities at that time or selling, and do you think they were buying S. Korea or selling? I'll leave that up to the reader's imagination. The point is that Morgan Witter was trying to say that the US equity market was bad because the Asian equity market was so good. Now these same people are walking around here trying to say that the US equity market is bad because the Asian market is so bad. Well guess what Morgan Witter - there are people out here that are paying attention and while you might not like to believe that you are accountable to a report card on the past - in fact you are. Just because the big secular swing in the automobile market has been and will continue to significantly impact both our country's and the Asian countries' economies and financial markets - I'm sorry - the fact of the matter remains that the enduser for the lion's share of all this technology and manufacturing output remains in the US and Europe where demand and financial resources remain strong. That being the case, capital will flow towards alternative safehaven sources and the manufacturing and technological investment and progression will continue to take place. The money and investment returns will remain and still be made, only the pockets will change. You may even see a "flight" of Asian capital to our markets. This will have an exact opposite effect to the one being so selfservingly proffered by Morgan Witter today and is more closely aligned with the objective predictions of Abbey Cohen at Goldman Sachs. No matter the outcome, CYMI will continue its extraordinary emerging growth characteristics because it happens to be the only game in town. Eventually the equity market in CYMI's common stock will reflect this reality in spades. PS: Once CYMI gets beyond the false innuendo with respect to an Asian impact on its stock value, I wouldn't be surprised to hear that someone will try to come out with a "global warming" causal downside impact. This will create an additional philanthropic outcry warning retail investors that they will be better served in 5.0% T-Bills. It will have just about the equivalent merit as some of the current Draconian dogma being espoused with respect to the "Asian factor". Good Luck To Each And All Curly ~~~~~~~^^ [6.6] ....> [_]