Disasters, whether natural or man-made, are forms of economic stimulus. Most of the replacement comes out of insurance-instead of out of normal cash flows. That's the reason that any disaster gives you a silver lining of economic recovery.
The fundamentals for tech will be stronger next year but I'd be surprised if the stock performance was as strong. This year we had an economic recovery plus a bounce off the extreme pessimism we had in March.
What would be a real home run is if the new product got them an account where they weren't doing business at all.
I think tech equals growth.
Serves first and foremost as an incredibly visceral reminder of how much uncertainty you have in your world.
We think a lot less will be spent on battleships and a lot more on things like radar and the intelligence of defense. It seems like locating the bad guys is the hard part.
We play the Internet through Internet infrastructure companies. Their function is moving data.
We'll be happy to have a good year, and not disappointed if we don't have a blowout year.
Given that the whole world is not rushing to buy technology mutual funds right now, we'd have to sell something to buy something. For the most part our bets are down.
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