Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!! -- Ignore unavailable to you. Want to Upgrade?

To: Trey McAtee who wrote (3443)	5/21/1998 4:50:00 PM
From: E.J. Neitz Jr	Read Replies (2) \| Respond to of 6565

Found Another Article on Kurlak-- TheStreet.Com Wrong! Rear Echelon Revelations: Cramer on Why Kurlak Got It Right By James J. Cramer 5/21/98 7:57 AM ET People who believe that semiconductor stocks are icons worth worshipping should not read another word of this column. I cannot guarantee you cardiac unit reservations. People who believe that Intel (INTC:Nasdaq) can only go up, click on another article. People who insist that saying something negative about tech is sacrilegious -- I am talking true believers -- this is your last exit before Armageddon. Enough warnings? Okay, here it is: Tom Kurlak is right. I told you to click elsewhere, didn't I!!!!????? Although I have neither written about Tom nor talked to him lately, I receive about three emails a day, everyday, asking me to assassinate this guy, if not in reality than in effigy. No can do. I save the high explosive for guys who lose me money, not make me money. Yesterday, when Intel broke decisively below 80 -- at a time when the Dow is near hitting a new high -- I had Tom to thank for not letting me ride this one down. I have owned a small position in Intel until May option expiration, and have now even exited that. But I had the big kahuna position on when Tom downgraded the stock in the 90s, and while I cursed and cursed that I left five points on the table, I feel like he saved me 20. Here I stick the boilerplate nod in: Intel is a great company. It will come back. Even Tom thinks that. But semiconductors have been terrible performers ever since Tom underweighted them and I am very glad I listened to him. I've praised Tom before, as all of you who hate hate hate him know. That's not the point of this article. The point is that Tom didn't do this to the stocks. He didn't cause the shortfall in Analog Devices (ADI:NYSE) yesterday. He didn't put the cautionary words in Intel's mouth. He's not the reason why Micron (MU:NYSE) and Texan (TXN:NYSE) are hurting. He just extrapolates and predicts. So before you press on my byline and start hassling me about Kurlak, could you just remember for once that he got it Right! And we need more analysts who get it right and fewer who get it wrong. Do you think it is easier for Tom to be bearish than bullish? He happens to be a guy given to optimism and enthusiasm, and, get this, the only analyst besides two ex-Goldman tech guys that my wife ever thought was any good. And she hated everybody when she worked in the biz! Do you think his investment bankers are happy he went negative so all of those luscious deals could go the way of the other firms? Tom went negative because, in retrospect, it was time to get negative. He went negative because it was Wrong to be positive. That's good enough for me. ***** Random musings: Wait a second, how do you like those mutual funds closing up? Got to give these guys a positive nod when they do something right for existing shareholders. Thanks ... Anybody else bored by T being the big story every day? Does anybody really care about T any more? ... Hey, I thought this was an interesting counterpoint on Dell (DELL:Nasdaq) from another Squawk Box co-host, Bill Fleckenstein... James J. Cramer is manager of a hedge fund and co-chairman of TheStreet.com. At time of publication, his fund is long Dell, although positions can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Mr. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he welcomes your feedback, emailed to Jjc@thestreet.com. See Also WRONG! REAR ECHELON REVELATIONS ARCHIVE