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

To: craig crawford who wrote (12079)	12/29/1997 10:20:00 PM
From: John Bloxom	Read Replies (1) \| Respond to of 25960

<<I don't see how taking a position in CYMI today at 15 is going to hurt a fund managers performance in just a few days.>> Craig, there are these things called charts. If you can find the one on this company, you'll understand just how it is that a few days can hurt a lot. A whole h*ll of a lot if you're the only big guy buying into an otherwise downwardly biased market for the issue. As for thinking about it, you should know that in addition to doing this for a decade, I represent people who run big money for a living, and so my thoughts are informed by actual experience, not mere intellectual symmetry or consistency. If you think that institutional money, in this still up 1997 year, is going to place fresh money in this plummeting issue before 1/1/97, you're flat-out dreaming. It won't happen. You heard it here first. I told everyone here the same as far back as October, and I've been right so far. Two days to go, and the issue is settled. Bear in mind that like you, I like CYMI; I own a lot, and I'm likely to buy more in the next two trading days. I understand, however that the price of the issue is affected by loads of stuff other than the prospects of the company. That's all I'm trying to say. Regards and good luck, John

To: craig crawford who wrote (12079)	12/30/1997 2:50:00 AM
From: Christopher Gates	Read Replies (2) \| Respond to of 25960

Craig, I believe that what John is talking about is "Window Dressing". It is the practice of buying the winners at year/quarter end so that when the fund shareholders get the year/quarter update on holdings the fund managers look like they own all the winners. This in fact could work the opposite way. Who wants to show they held Cymer all the way down to $14. One way to maybe combat this problem would be to have the mutual funds note the average cost of the security next to the holding. Chris