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To: carl a. mehr who wrote (74025)	2/19/1999 1:46:00 AM
From: Jeff Fox	Respond to of 186894

carl, re:"I have returned --went off to Dell land -- gambled a lot" Ahh Dell - a sister sanctuary, although not as holy. Still you shouldn't gamble in holy temples - although investment there is virtuous. I pray that the spirits have turned out the evil that besieged its walls this last week. Must admit that I dipped to the blessed place at 81 in yesterday. Might stay awhile... Jeff

To: carl a. mehr who wrote (74025)	2/20/1999 7:26:00 PM
From: stockman_scott	Read Replies (1) \| Respond to of 186894

DELL is not a gamble if you buy and hold for the LONG TERM. This company has an incredible ability to execute and GREAT growth prospects (when you consider what they can accomplish overseas, in the server market, in the storage market, and on the internet). DELL's return on invested capital is one of the highest in any industry and for good reasons. Here are some insights from one of my friends (CTC) on the DELL thread: <<Invested capital is the sum of equity plus long term debt. ROIC is the earnings divided by invested capital. No company that I know of has returns on invested capital that comes close to Dell's. But that is only part of the story. Earnings are fictions created by accountants. Cash flow is reality, and the cash flow generated by Dell is truly spectacular. The success in generating cash flow through a combination of production efficiency and superb financial management has allowed Dell to grow at stupendous rates without the need for external financing. That is the genius of this company. As you may guess, I like Dell.>> Regards, Scott