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To: Harvey Allen who wrote (22632)	2/9/1999 9:12:00 AM
From: Harvey Allen	Respond to of 24154

For serious programmers, contributing code to Linux pays off not in dollars but in respect. salonmagazine.com

To: Harvey Allen who wrote (22632)	2/10/1999 2:52:00 AM
From: Rusty Johnson	Read Replies (1) \| Respond to of 24154

From Briefing.com ... Theme 3: Microsoft is no longer viewed as the technology leader. Although a critical and lucrative player in the enterprise software arena, the company is seen as a cash cow generator, not a creator of explosive new technology or business models. Over 50% of the IT directors surveyed by Goldman Sachs stated they intended to buy Windows 2000 (Windows NT 5.0), but as far as creating new industry or markets, institutional investors don't expect much. Mr. McNamee even called Microsoft (MSFT) a "bond." A "really good bond" but a bond nonetheless. What he means here is that the revenue flow, and resultant cash flow is so predictable that the fair value can be accurately calculated, as bond dividends can be. Of course, like a bond, current market value will be adjusted to current market rates. If multiples on stocks fall, so will Microsoft stock, even if earnings expectations are met.