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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (14822)	9/10/1998 3:22:00 PM
From: DaveMG	Respond to of 152472

Ramsey, Re earnings it's interesting that Jack Welch was on CNBC today stating GE earnings will be up 20% yr/yr this quarter and the stock is nonetheless down over 5% at this point.Not a good omen to say the least. It's also very important to remember however that mkts almost never crash, at least overnight. dave

To: Ramsey Su who wrote (14822)	9/10/1998 4:48:00 PM
From: bananawind	Read Replies (1) \| Respond to of 152472

Ramsey, all... re: ...this fiasco is quantifiable because it will delay handsets and gateways. QCOM IR is so far maintaining that management has said there should be no impact on gateway revenues or their timing. I have them checking on the terms of the handset contract - whether it calls for delivery by a certain date or if commercialization date can change the delivery schedule. I would note, however, that you have to stretch to imagine today's (so far) $350 million hit to QCOM's capitalization being appropriate to GSTRF's impact. For those taking the double hit with GSTRF too, you have my sincere sympathies. Gregg P. has not weighed in here for a while, and I am a poor substitute, but I am sure he would urge you to review the businesses that you own and the reasons that you own them. Whether Clinton is in the White House or not, with his pants on or off, there are still likely to be 18 to 20 million cdmaOne subscribers by the end of this year, and many, many more in years to come. A while back Gregg made a comment about some of the worst investment mistakes he ever made resulting from trying to forecast "the market" or make broad, macro-economic calls. [at least that's the way I remember it - sorry if I misquoted, Gregg.] Some took him to task on the basis that the very essence of investing is forecasting, and to get to the micro-view one must first see the macro-view. All true to a degree. But what I believe, and what I thought Gregg was driving at, is that I have absolutely no ability, try as I might, to make macro assessments of consequence that are in any way accurate or useful in investing. I'll grant maybe someone can, but I've yet to meet them. On the other hand, it is within my grasp to analyze balance sheets, income, cash flows, management ability, and other elements that go into an estimate of business value. With diligence this should lead to the purchase of good businesses at reasonable prices, which held over time will lead to growth of my capital. While I might like to be able to foretell "the market" direction or future global economic growth rates, I have no ability to to so, so why spend valuable time on it? Anyway, that is what I thought Gregg was saying. It is an approach that has gotten me and many others through good, bad and ugly times with capital and sanity intact. End of soapbox. -Jim