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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: tang who wrote (20332)	6/4/1999 9:18:00 PM
From: Jenne	Read Replies (2) \| Respond to of 41369

Wall Street Week tonight... Buy internet.. BUY AOL!

To: tang who wrote (20332)	6/5/1999 1:15:00 AM
From: Mary Baker	Respond to of 41369

Tang, I must disagree re: Legg Mason and selling AOL... You wrote: <<<Not long ago, Legg Mason(?) fund dumped all their AOL for a single reason of not getting a share of ATT/Media 1 cable deal, sited the death of AOL, I guess Mr. Mason is one of the guy tries to get back in today?>>> Legg Mason's William Miller manager of Legg Mason Value, bought AOL at $5 per share in 1996 (split adjusted) it was becoming more expensive than the broad markets P/E ratios of 30.6...AOL had a P/E of 504...which is the upper limit most value managers try to observe. He bought LOW and sold HIGH...as he wisely should have. I happen to have 300 shares of this mutual fund...and I am glad he sold...because my fund would have been tanking along with my AOL shares if he had not preserved our profits! He did his job well. He has nothing personal against AOL...but he has a major large fund to manage and he is very astute...that is why my Legg Mason fund has averaged 48% for over 5 years and 35% for 10 years. He also sold Dell at the same time he sold AOL...I get the newsletters every month explaining the reasoning...which is more global in viewing the big picture. Not the narrow reasoning and single-minded issue as you suggest. Regards, Mary