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To: Brian Hutcheson who wrote (3311)	12/31/1997 8:38:00 PM
From: Investor A	Read Replies (2) \| Respond to of 6843

More Pentium bug report ... British firm claims Pentium "bug" news.com If the market expection on INTC is set 50 for Intel earning shortfall, the panic selloff might take INTC to low 30s before it stablizes at 50 level. All of us are just luckily in a crazy stock market. Nothing is going to be reasonable for a while as long as stock price is related.

To: Brian Hutcheson who wrote (3311)	1/1/1998 12:41:00 AM
From: Paul Engel	Read Replies (1) \| Respond to of 6843

Brian - Re: "Fleckenstein said he liked Intel as a short for similar reasons his target seemed to be about $50" Fleckenstein has been short on intel for over two and a half years. He has lost his inevstors an enormous sum of money and he hopes he can recover most of it if Intel goes back to $50. Even then, he will still be under water. From a recent Barron's interview: " Barron's: You must be a glutton for punishment, Bill. Fleckenstein: Well, for the last couple of years, I admit it, I've been short -- mostly technology stocks. I've had only four longs, over that entire stretch. But the fact that I've had better than flat performance over that time means that, on a relative basis, I've done okay. Although that begs the question of why I was dumb enough to do this in the first place! {==============================================} Intel has quadrupled in that "couple of years", taking Fleckenstein's money and his investor's money and LOSING capital in the face of one of the greatest technology bull markets in history. Fleckenstein has proven himself a loser. Paul