To: Hiram Walker who wrote (2603 ) 1/13/1999 1:04:00 PM From: Eric Jacobson Read Replies (1) | Respond to
Tim - As I said, I like the company, the technology, and the management. However, you don't have to outsmart the market to make money - I think this is one of the mistakes small investors make. You didn't have to buy INTC when it sold off on the 386 or pentium bug news to make money on INTC. You could have bought in 5 years ago, or even 6 months ago, and still made money simply because they are the leader in their industry and continue to grow sales and margins. The same thing with CSCO - you didn't have to buy it when it was a fledgling to make money. If HLIT is the next CSCO, then it will go on to register 2000% + gains over the next 15 years as broadband technology is made ubiquitous. This may happen, and if so, there will be plenty of opportunity to participate in the upside. Breaking thru $19 will be one of the first signs of this growth trend - the equivalent of bonking us all on the head - and then breaking $26 will be the second sign - BONK! I don't think it will hurt me to miss out on one or two points, or even the first double. In the meantime, it's not clear to me that HLIT is the leader in the industry and they are still dependent on a handful of customers, so I will watch it from the sidelines for now.
