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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (33229)	10/2/1998 4:31:00 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 132070

he's ok, the twerp. he guaranteed cpq would hit their number on the same day they said, not only would they not hit their number, but they wouldn't even hit any number ;-) later that day he was hired into some super secret high level officer job that prevented him from disclosing all his super duper inside information on the net. yeah, like his cpq insight? what a joke. i'm still laughing. bull markets make the biggest dolts into geniuses.

To: Knighty Tin who wrote (33229)	10/3/1998 5:37:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

To All, Media Review: 1. Fred Hickey sounds like he is throwing in the towel on Micron in the latest HTS. He seems to believe the rumors about Intel being stupid enough to buy into MU at these outrageous levels. And that cash means, in his words, that Mu will not go bankrupt next year. Fred never states that he is no longer a bear on the stock, but that is my interpretation and I could be interpreting the words incorrectly. After all, my translation is the New Reversed Standard Version, not The King James Cramer Version. <G> Anyway, I am still a raging bear on MU. If Intel does invest in this dog, that simply means Intel's fall from grace will accelerate from here. Cash alone does not a valuation make in a company. They also have to make money in their business, and I don't see that happening with any consistency in the next couple of years, no matter how much cash they throw at equipment purchases. Also, the debt burden is growing and there is no free cash flow to pay it off. Large corporate shareholders, like Intel and TXN, can be a mixed blessing. Remember, all the crappy MU trash TXN owns can be sold at some time, depressing the price. If anyone knows that MU is overpriced, it is TXN. Essentially, MU will have to spend huge amounts of cash to merely survive this downturn. It is a roll of the dice. If they are lucky, they could still end up with eps in the next cycle not nearly large enough to justify the current stock price. When I see somebody gambling in desperation, I bet against them. Sometimes they get lucky, but MU should be just out of four leaf clovers someday. 2. Barron's has some nice pieces for a change. And, as usual, the best is in the Mailbag section. A letter points out so even the economic theory challenged can understand why Alan Greenspan is one of the causes of the bursting financial bubble. The writer does not use my term, enabler, to describe the Fed's role in this financial Russian Roulette, but he comes close enough. Another writer defends Dell's scam buybacks of stock as great for shareholders in lieu of dividends. He ignores the fact that total shares have not declined much. He totally ignores the fact that Dell has used debt, not cash flow, to leverage this flim-flam. His valuation model, if it can be called that, is horribly flawed. Otherwise, excellent letter, in the how did you like the play, Mrs. Lincoln category. <G> Idiots on parade. Abelson mentions that the LTC bailout is not going so well. Also, as opposed to some misinformation spread on an SI thread, the principals of the hedge scam have not been totally wiped out of their equity interest. They will be if spreads continue to run against them, but they haven't been yet. Eric Savitz talks about some undervalued tech stocks, which means we have a lot of downside to go. They interview Bob Olstein of Olstein Financial Alert Fund. This guy sounds tough when he talks accounting, but when you see his picks and pans, you will understand why his fund doesn't do so well. He buys overpriced crap like TXN and shorts stuff in the low teens and single digits. Bobby, Bobby, Bobby, that ain't smart. MB