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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year -- Ignore unavailable to you. Want to Upgrade?

To: Eddie Kim who wrote (1880)	8/24/1998 2:57:00 PM
From: Chuzzlewit	Read Replies (1) \| Respond to of 4509

Eddie, a couple of points, the first is arithmetic, the second is you penchant for misstating what I said or didn't say. Arithmetic first. An annualized rate of 70% per annum is different from an increase of 150% in two years. Assume for the sake of simplicity that we are dealing with two discrete purchases that were made 26 months ago. A 70% annualized growth would yield a 216% gain over the time frame. On the other hand, a 150% growth over the same time frame yields a 53% annualized growth rate. But it is more complicated than that, because I increased my position in PSFT several times during that period. Second, there is nothing inconsistent in my remarks. You have simply misstated my position. I simply pointed out that PSFT's management is superb, and that CPQ's management is less than stellar. I then pointed out that judging by PSFT's price appreciation during the time I have owned it leads me to believe that it is grossly unfair to characterize the stock as "a dog". Stop being so defensive. TTFN, CTC