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Technology Stocks : 3DFX -- Ignore unavailable to you. Want to Upgrade?

To: Curbstone who wrote (7596)	9/23/1998 5:01:00 PM
From: Sun Tzu	Read Replies (1) \| Respond to of 16960

<<Sun, something you said doesn't sit well with me: It looks like retail to me too, and I hate that; most TDFX share holders don't know the rules of the game. What "rules" are you referring to? I like you Sun so don't take this wrong but that statement sounds both cocky and arrogant. Could you elaborate a little?>> Mike no offence intended here to anyone. It's not as if I am an institutional investor myself. But remember the sell off last quarter because the TDFX beat the estimates only by 15% and that just was not good enough (though the institutions felt otherwise). Remember people who were buying out of money near calls on stock in a strong down trend at highly expensive prices, or those who'd call yet another bottom to leverage themselve to the limit so that every short term sell off would be followed by another sell off because they had to liquidate at a loss, or people who mistake the concept of averaging down with catching a falling knife with both hands. The majority of these people, rather than helping to stabilize the stock or pushing it higher, contributed to its downfall and increased volatility. I like 3Dfx's prospects. I even like the current valuations of TDFX (I've been liking it for a while now). But the stock market is the greatest voting mechanism ever invented. Would you want to live in a society where people would vote irrationaly and you'd be obliged to yield to the majority? The presence of many ignorant share holders (present company excluded) has made owning this stock somewhat like deciding to emigrate to Russia; Lots of opportunity and cheap valuations, but you'd have live with people who'd choose alcoholic fools to run the government. And you just can't operate a good business in Russia, no matter how skilled you are in running a business. I hope this helps to clearify what I meant. Let me know if you want me to explain my statement any further. Sun Tzu