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it ran up after we bought it and then it ran way down. Last
fall it made a new high for all time, and now it's way down
again with the whole market. The funny part is that it's now
just a little bit above what we got when we traded in a year
and a half ago, and I presume that it's going to go lower because,
in the coming year, television prices have gotten so high that
the networks are having trouble selling time. Cigarette and
automobile companies are pulling back. They're having trouble
selling that space that was so easy to sell previously. At
the same time, the public is saving money because they're worried
to death about Vietnam and they're not buying these big
color sets as much. There have been lots of strikes and labor
troubles and inflation goes on unchecked. So RCA will probably
be lucky to make as much this year as they made last year.
That's not what the funds want today. It's a growth stock
still, but it isn't going to grow this year. It will be damned
lucky to hold its own. That goes for a lot of the big gilt-edge
companies. So the next year or so the stock probably will
drift down further, but what the hell. RCA is like having
cash in the bank. I'm not worried about it. I just like to
Also, I told you that I've got these stocks in my Las
Vegas account. They bounce around like crazy.
There you have your fun.
There I have my fun, at least, when they're going up!
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