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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: accountclosed who wrote (11639)	11/20/1998 2:12:00 PM
From: yard_man	Read Replies (1) \| Respond to of 86076

3 sentences? I think it is very richly priced compared to any reasonable assessment of what its earnings growth potential will be in the next couple of years. Cautionary statements were made in the last release which were glossed over and if I remember correctly analysts were encouraged not to raise estimates. Stock repurchases while the stock is near all-time highs. Recently -- large insider sales. Level of the overall market and the sensitivity of IBM to market stumbles. Others may be able to give you better reasons to look for a stumble -- certainly MB can. I think he expects some IT spending to be corraled by the Y2K thing (custom fixes to SW) that might OTW be spent on IT upgrades.