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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (64106)	9/8/1998 2:21:00 PM
From: jim kelley	Read Replies (1) \| Respond to of 176387

Mohan, Re: Fleckenstein and Hickey The thrust of Fleckenstein and Hickey's article was that they want to buy DELL at 5 to 7.5 dollars a share. That is if they can do their chicken little scare and run us all out of the stock first. Buying a company for book value is equivalent to buying them out of the bankruptcy court. They were arguing for liquidation values. Hickey would have liked it if DELL used its earnings to buy gold bars and stored them in a vault. Greenspan who is a lot smarter than these two yahoos gave a speech last week in which he said that the valuation of a company should be based on a rational assessment of its earning going forward discounted to present value. There was nothing in his speech about pricing a company's stock based on its book value. Book value represent a residual measure of past performance and says nothing at all about a company's future prospects. These guys timing was perfect. The entire Bear-ons issue came out on Friday and was way wrong on Monday. Hickey got a hickey and Fleckenstein got another layer of egg on his face. Gosh, I just hope these two guys were seriously short DELL. IMO they wer not because they have already been burnt many times.