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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: kendall harmon who wrote (42541)	5/29/1999 10:21:00 AM
From: lee kramer	Respond to of 120523

KENDALL: (Comment): I've noticed that a lot of old pro's (analysts, CEO's even)...folks in their 50's 60's an 70's...often have a hard time accepting the tech revolution. It's VERY new, changes all the time, and is damn hard to understand. You'll note that Larry Wachtel (and many of his brother analysts) rarely recommend a 'net stock; they don't know how to value it. A p/e above 30 is risky...that's what they've been taught...and that's how it's been until fairly recently. So they go with what they understand; the IBM's, Compaq's, Dell's. Conversely, some of the younger analysts have no trouble recommending some of the 'nets and other high-techs. They UNDERSTAND and perceive the implications a few years ahead. High or non-existent p/e's don't frighten them. I don't really understand the "fundamentals" of many 'nets or high tech. But I can read a chart, and because I'm a trader, I can trade 'em. (Lee)