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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: gbh who wrote (48643)	6/13/1998 12:17:00 PM
From: H. Wai	Read Replies (2) \| Respond to of 61433

Anyone who watched CNBC yesterday around 5:45 pm? I heard that they reported the export revenue from Carnifornia increased about 6 percent. Although there is the Asian crisis, export to Europe, Canada and Latin America is able to compensate for the decrease to Asia in order to make the 6 percent increase. However, I don't know whether the statistics is for the first quarter or last month or any other period? Can someone tell me the time period? Thanks, H.Wai

To: gbh who wrote (48643)	6/13/1998 5:10:00 PM
From: Knighty Tin	Read Replies (4) \| Respond to of 61433

Gary, One of the folks who contributes on my thread wrote a note to Cramer when the stock was $23. Jimbo said Ascend was overpriced and going lower. His note is public and I like to make fun of him because he never admitted that he made that mistake now that he is late to the party and bullish. Anyone who buys AFTER a stock goes up more than 30% is just a momentum geek, not a guy who anticipates fundamental turns. The question I answered asked about the possibility of a telco taking over Ascend. That was the only reason I mentioned it. But all funds, Index or managed, underperform intelligently managed individual portfolios, hedge funds and managed commodity funds. That is because even those PMs who don't claim to be indexers are living in an indexed environment. You know the garbage: you are a large cap growth fund, so you won't buy value stocks or small cap stocks or bonds or commodities or buy puts or sell short. You will be compared against other growth funds, not against absolute measures such as, did you make money. If other growth funds jump off a bridge, I want to hear a splash. If you have any innovative ideas, get a job elsewhere, if you can. You must complete the CFA course so your performance will be as mediocre and herd-like as everyone else's. Having lived in and fought against that environment for 20 years, I can tell you it is pretty stifling to anyone with a creative bent. Back in the good old days, before fund performance measurement firms, fund managers were hired to make a lot of money. If they did, they got paid a lot. If they didn't, they got fired. Now they are paid to be caretakers for a "style" that will be out of sync at least half the time. Total nonsense. Good luck, MB