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To: uu who wrote (8775)	12/30/1997 1:10:00 PM
From: sea_biscuit	Read Replies (1) \| Respond to of 25814

Having said that and by looking at the list of high tech stocks you have given which have fallen down by as much as 60-70% you are basically saying that all high techs are bad and all are overvalued I don't have to say it! Obviously, the consensus feeling among tech stock investors is that even after these stocks got cut in half, they are overvalued! Otherwise, we wouldn't see the continued downdrift, would we? Now I am sure if you use a little bit of your own logic you realize your statement that all high techs are overvalued and bad can not possibly be taken serious and logical!! That is not my logic. My logic is more along these lines -- the most important word in investing is "valuation", the most important phrase is "margin of safety", and the four words that an investor should never believe are "it's different this time". Dipy.