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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Jefferson Prescott Dewhurst who wrote (28613)	2/21/1998 2:56:00 PM
From: Joey Smith	Read Replies (2) \| Respond to of 1572630

re:The market doesn't care what you think about the quality of AMD's management or that there have been problems with yields or that the next 2 quarters will be bad. All those factors have been accounted for in the current stock price which is ~$19/sh. Oh, yeah..so you mean to tell me if Jerry tells shareholders in March that AMD will report losses for at least the next 2 quarters and he still doesn't know if yields will improve, that the stock will stay at $19? You need to get a clue. You are severely underestimating the severity of AMD's problems (both manufacturing and pricing vis-a-vis Intel) and how easily this stock could fall below book value or 50% from these levels. The stock market is not perfectly efficient when it comes to information and $19 may not represent the true state of things (especially if investors and analysts are believing all the HYPE that comes from this company). Good luck on your $40 AMD prediction within a year. <ggg> joey

To: Jefferson Prescott Dewhurst who wrote (28613)	2/21/1998 3:28:00 PM
From: Tiley	Read Replies (1) \| Respond to of 1572630

Dewy, "Re: AMD stock price" Sorry to jump into this debate but I do take exception to your point about a company being worth what the market is pricing the stock at. The market prices a stock based on the information available at a particular point in time. Now that information might not be correct or other factors might come to light to change the underlying assumptions. For instance AMD was priced at $12 at a point and then ran upto $48 and is now back at $20. This does not depend only on the underlying assets but also upon assumptions about the future earnings (which might turn out to be too optimistic or too pessimistic). As investors (or traders), you might disagree with the underlying assumptions and take a position. Only time will tell whether you were right or wrong. However, for what its worth, my personal opinion is that AMD has bottomed (or is close to bottoming) and I have recently taken a small position in it. I might add to it as things become clearer, Best Wishes, - MJ PS: Of course, I still continue to hold Intel in my core portfolio

To: Jefferson Prescott Dewhurst who wrote (28613)	2/21/1998 4:53:00 PM
From: Reginald Middleton	Read Replies (1) \| Respond to of 1572630

<Since I'm not selling any product or service I don't have to prove anything to anyone.> I just asked you to back up what you said, that's all. I do hope you weren't offended. <All those factors have been accounted for in the current stock price which is ~$19/sh. not withstanding the passion and vehemence of your arguments that the price should be $8/sh. If your methods of analysis were correct and appropriate the price would be $8/sh.> We've been through this already. I am sure you realize that assets get sold at prices that don't always correlate with thier actual value. Haven't you ever been ripped off before? I have outperformed the market consistently for the last several years. Therefore, in my opinion, the market is not always right. I am not trying to get into an argument, simply an illuminating intellectual argument. I could be wrong, and would admit it if I was. All you have to do is produce a concvincing argument.