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

To: Raptech who wrote (5775)	9/24/1998 2:14:00 AM
From: William Epstein	Read Replies (1) \| Respond to of 7841

Raptech; The CEO of Gulfstream Aerospace was on Squawk Box this morning complaining that the stock's price had nothing to do with reality. His company has a backlog of 3 years going forward, every plane in the backlog partially paid for by huge deposits. The company has tripled its production capacity and the demand is still growing. Here is the reverse situation. If earnings were the major criteria then picking stocks would be a simple matter. Specialists don't always control prices but do it when they choose to. They step in whenever prices need a push in one direction or another. Over time, they can make prices do flip flops, change direction and go as high and low as necessary to fulfill their goals. Perhaps, we will never agree on the basics. I might add about Chaus that Bernie took the company public as a Sub S corp.. Can you believe it? "Oh, we don't do that kind of thing on the NYSE. We have standards. They do that on the NASDAQ." So, all of company's meager assets belonged to him. The stock was technically, worthless. PHOTOMAN/WILLIAM EPSTEIN