> "If >information technologies really are information technologies, then >inventories should behave better in the future," Mr. DeLong says, echoing >an argument Mr. Greenspan often makes. Wal-Mart knows almost instantly >what's selling and what's not, and adjusts orders accordingly.
As I've said to Brad on numerous occasions, **ahem** Cisco **ahem** In fairness, oor Brad has an article on his website in which he takes a bit of this back .... http://www.j-bradford-delong.net/movable_type/archives/000365.html dd ___________________________________________________ Email Disclaimer This communication may contain confidential or privileged information and is for the attention of the named recipient only. It should not be passed on to any other person. Information relating to any company or security, is for information purposes only and should not be interpreted as a solicitation or offer to buy or sell any security. The information on which this communication is based has been obtained from sources we believe to be reliable, but we do not guarantee its accuracy or completeness. All expressions of opinion are subject to change without notice. All e-mail messages, and associated attachments, are subject to interception and monitoring for lawful business purposes. (c) 2002 Cazenove Service Company or affiliates. Cazenove & Co. Ltd and Cazenove Fund Management Limited provide independent advice and are regulated by the Financial Services Authority and members of the London Stock Exchange. Cazenove Fund Management Jersey is a branch of Cazenove Fund Management Limited and is regulated by the Jersey Financial Services Commission. Cazenove Investment Fund Management Limited, regulated by the Financial Services Authority and a member of IMA, promotes only its own products and services. ___________________________________________________
