They are a way to play the growth in the Internet from the hardware side, ... The Internet just soaks up more and more memory, and more and more bandwidth, and both these companies are ways to play it. They're not cheap, they're really expensive. We pulled a little money out of them recently, as a matter of fact, but we continue to hold most of our positions in these stocks.
More Quotes from Jim Melcher:
We are just about to move into the pre-announcement season when companies start to tell you how wrong you were about earnings estimates,Jim Melcher
I think the market is at a balance point here and that we are likely to drift over the short run.
Jim Melcher
The worst hit sectors today are the ones that have gone up the most. They've had a great rise and so it's normal to see this kind of pullback.
Jim Melcher
If people think they're going to lose their retirement savings, they're going to pull out real fast and that's the danger of the market.
Jim Melcher
The markets are concerned that robust growth in the U.S. will eventually lead to inflation and actions by the Fed.
Jim Melcher
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