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Technology Stocks : TLAB info? -- Ignore unavailable to you. Want to Upgrade?

To: Curtis E. Bemis who wrote (2980)	8/14/1998 1:23:00 PM
From: JMD	Read Replies (3) \| Respond to of 7342

Recently read an article in which Warren Buffett was quoted. Swore I'd write down the quote but didn't, so here's the paraphrase. WB was asked how often and why he looked at the market. His answer was not often and when he did look it was only for the purpose of seeing if something "foolish" was going on. The 'foolish' is an exact quote. The context was primarily when sellers were offering an outlandish buying opportunity. I bought CIEN today which means I get TLAB at 55, off from 90 a few weeks back. IMO, TLAB @ 90 was overvalued; it had gotten ahead of itself and was starting to take on cult stock, YHOO-like overtones. As much as I'm a TLAB fan--and I am--I wouldn't have touched the thing at 90. But at 55? Neat opportunity. As for WCOM, T, FON saying they're going to look for multiple vendors and that the consolidation of the carriers is going to give them greater clout so that they're going to drive more competitive pricing from they're vendors. . . .excuse me, but that's about the biggest "Duh" I've ever heard. Anybody expect them to say that they were wedded to one vendor and would pay any price? Hellooooooo? TLAB's sales force consists of seasoned telecom veterans who know their customers intimately. Those customers know and trust TLAB. In this game, that's just huge. So now that sales force gets to throw some neat DWDM in their Willie Loman sample pack and hit the road. DWDM is not vaporware or a one-trick, this season's buzz-word pony. It is and will continue to be fundamental to network architecture. TLAB made one heck of a big bet in buying CIEN and no merger of this size is without substantial risk. But if the combination of the surprise news flash of a competitive pricing environment [amazing but true] together with the always technologically adept forecasting of the Wall Street Journal article hitting on a Friday in a very demoralized NAZ environment plus the illness of a CFO that the analysts loved is going to offer me a 50% discount . . . .well call me zany. Mike Doyle