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Technology Stocks : TECD - Tech Data
TECD 144.12-0.1%Dec 5 4:00 PM EST

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To: PeterGx who wrote (578)12/18/1999 2:40:00 PM
From: GS_Wall Street  Read Replies (1) of 584
Peter, I have invested in a couple of distributors in different sectors semiconductors, computers, cell phones, and clothing. One thing they all have in common is they move large amounts of money around, they have lots of competition and they trade a low P/E ratio relative to the industry.

Now if your timing is right and you are in an earnings up cycle you can get some P/E expansion maybe from 8 or 9 to 14 to 15, but beyond that gains are small and slow.

That being said I don't own anymore distributor companies. And if I did it would be for very short period of times. The last two times I was involved in TECD it was for less than two weeks each time.
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