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

To: Big Bucks who wrote (17732)	3/15/1998 3:01:00 PM
From: Tito L. Nisperos Jr.	Respond to of 70976

Big Bucks, I believe you are doing OK in waiting... nothing we can do but re-position ourselves for that great voyage to come (I don't even remember you using the word Titanic in your Posts)... Our AMAT ship is at present Aground due to the Low Semi-Equip Market Tide; sometime in the future, when the Tide rises, we will be leisurely sailing again...

To: Big Bucks who wrote (17732)	3/15/1998 6:44:00 PM
From: Gottfried	Respond to of 70976

BB, Warren Buffet's "Chairman's Letter"... He likes analogies as much as you do.<g> berkshirehathaway.com Excerpt: Given our gain of 34.1%, it is tempting to declare victory and move on. But last year's performance was no great triumph: Any investor can chalk up large returns when stocks soar, as they did in 1997. In a bull market, one must avoid the error of the preening duck that quacks boastfully after a torrential rainstorm, thinking that its paddling skills have caused it to rise in the world. A right-thinking duck would instead compare its position after the downpour to that of the other ducks on the pond. So what's our duck rating for 1997? The table on the facing page shows that though we paddled furiously last year, passive ducks that simply invested in the S&P Index rose almost as fast as we did. Our appraisal of 1997's performance, then: Quack.