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To: BelowTheCrowd who wrote (1223)	12/24/1998 2:17:00 PM
From: bob zagorin	Read Replies (1) \| Respond to of 1354

otoh, murphy was the first to pick INTC as a major buy back in the summer of 96 i think around split-adjusted 30. remember when they had their ss bug and everyone was writing them off. one of murphy's traits that is both an asset and liability is his concentration on silicon valley and west coast. it allows him to stay in direct contact but he also gets too close to some of the mgt. teams. it also contributes to his missing stocks like AOL, UUNT etc. because they are not silicon valley based. another thing is that murphy can be right about a company's technology, business plan, market etc. but the stock can still be a loser if wall street and investors don't support it. that drives murphy crazy and its one of the most difficult lessons i've had to learn. it's like a parallel universe: the real world and the one that exisits on the ticker. you can be right and lose money; you can also make money on stocks that are not supported by real world analysis.