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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Robert Douglas who wrote (6719)	8/18/1998 7:33:00 PM
From: Frodo Baxter	Respond to of 10921

Bob, A few things on profit growth- a) Productivity increases are understated. Uncle Alan told me so. b) My GDP data only goes back to the post-war period, but the latest issue of B-week said that in the Roaring 20s, the rate was 6%. (btw, amazingly bullish handbook on the next century in this issue... The American Century Redux?) c) You statement for excluding financials is correct. However, note the dichotomy between S&P500 and Russell. Expensive, mega-cap companies can grow just by acquiring slightly less expensive smaller companies. d) You worry about low unemployment. I say, thank god! Now companies like GM (if they had any backbone, which they do not) can go about aggressive restructuring campaigns, laying off workers and driving up productivity, morale, AND wage for the remainder. This is the enduring legacy of the tech revolution. Better, faster, cheaper. It's about productivity, stupid. Or something.