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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (17702)	3/14/1998 11:06:00 AM
From: Proud_Infidel	Read Replies (2) \| Respond to of 70976

GM, I am always amazed at those both on and off of this thread who are sickened by the thought of investing in the equipment cos. now. Seems we have a new type of investing where nobody gets on board until the ship is moving at full speed. This is distressing since it leads to extended valuations both when people are jumping on board and when they flee en masse. Momentum investing should not be called that IMO; it in no way represents what Buffet or Graham or any of the great investors have done to make money. No attempt is made at discounting future csh flows, listening to management and ascertaining whethere or not this is a good investment. There is one thing the momentum players look for, movement up or down. He** a monkey could do this, and probably much better. During these "down" periods, one should be preparing for the next up cycle by purchasing those names which will benefit most. The incremental gain of waiting for AMAT to drop to 29 vs. buying at 32 is not worth the risk of missing the train entirely IMO. In case anybody's wondering, I am venting because I saw a fund manager saying he would stay far away from the equips. I cannot see what he is doing but here's a guess of some of the names he's purchased over the last couple weeks: AMZN, YHOO, DELL, MSFT. To buy these cos. at these prices after they have run up is akin to medical malpractice IMO. Thanks for listening to the rant, Brian