To: d e conway who wrote (52926 ) 3/19/1999 10:48:00 AM From: DRBES Respond to
re: "Selling pressure has abated...volume is down & price has stabilized. Don't you think that those who were gonna sell have already done so? I say we're bottoming out here, and that bad earnings are already discounted." PROFOUND misguidance. AS I have implied, I have not sold, but, I have kept my optimism, however, for the near term very restrained. One positive note is that it was Atiq Raza that issued the last warning. I hope that it overstated the negative case, as is the consistent pattern of iNTEL. If this pattern shows a possibility of emerging, it is a significant change and evidence of independence from Jerry and his propensity for always overstating the most positive possible case. Given the recent slew of lawsuits he has good cause to finally shut up. I am not so cynical about Jerry as many of you are; I sincerely believe that he believes what he says and is completely candid in expressing his beliefs. The problem is that he surrounds himself with "yes men", the pessimists are either canned or know to stay away, lest they be fired. He is a salesman, with a big mouth, and should not be allowed to speak publicly even with big disclaimers trailing his announcements. They are not enough. He speaks with hope rather than actual fact and is too slow to announce bad changes when they develop.
