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Technology Stocks : Rambus (RMBS) - Eagle or Penguin -- Ignore unavailable to you. Want to Upgrade?

To: Dave B who wrote (16587)	2/24/1999 10:19:00 AM
From: jopawa	Read Replies (3) \| Respond to of 93625

From thestreet.com Tastes Great, Less Risk By James J. Cramer 2/24/99 9:00 AM ET Ypres. Verdun. The Somme. Rambus (RMBS:Nasdaq). Hold it! Rambus isn't a bloody historical battleground! It's a current battleground, with fresh blood, new casualties and no sign of a truce. They shoot prisoners on the Rambus battlefield. Can you believe the withering enfilading fire on this chip maker? (I know, it's not really a chip maker -- heck, that's part of the problem.) Maybe the chips are shipping; maybe they're not. Maybe Intel (INTC:Nasdaq) will take millions of dollars of product; maybe it won't. Maybe it will be the biggest chip ever; maybe it will be a flop. Maybe the stock is incredibly overvalued, the most overvalued semiconductor company; maybe it's the cheapest and an incredible opportunity. Let me give you my battleground philosophy: At any given time, there are situations so controversial that you are in no man's land with hot lead coming at you from all sides. And then there are other areas, noncontroversial areas, where things are rosy and the stocks are underowned going to overowned. These stocks are mid-cap stocks about to be large-caps, or large-caps that are not owned enough by the big pari-mutual companies. (Yes, that's my new name for them, befitting the betting I see going on.) So what if these stocks are found in the rear echelons, away from 50-caliber bullets and grenade fragments? So what if you can't get a Congressional Medal of Investing for being in these stocks because they are not above and beyond the call of duty in finance? The game is to make as much money as possible with as little risk as possible. That's why, despite the great analyst backing on Rambus, you won't find me there. You will never find me in stocks that sound like great shorts or longs. I wait until the battle is over, and then I visit the battlefield.