Guidance for fiscal 2001 is more cautious than necessary and (we) remain very optimistic on the next 12 months for Microsoft and believe we are reaching absolute bottom in the company's share price, if not there already.

I don't know if guidance is going to get much lower for AOL, but it still looks like it's kind of in a death spiral, ... If things are still deteriorating at AOL by late this summer, people are going to wonder whether or not Parsons can fix it as well.

We expect Microsoft's proposal to fall far short of what the government would be willing to accept and what the government will ask the court to impose on Microsoft. Despite the third fiscal quarter shortfall, we believe now, more than ever, would be the wrong time to sell shares of MSFT.

Despite the third fiscal quarter shortfall, we believe now, more than ever, would be the wrong time to sell the shares of MSFT. The next 12 months, from a financial and product perspective, should be much, much easier than the prior 12 months. For this reason and more, we reiterate our 'strong buy' rating and remain convinced that Microsoft represents an outstanding investment opportunity at current levels.

Your guidance surrounds you all day long, every day, all the time, never leaving you, not even for one moment.

We are essentially cloaking him with some guidance and letting him say his piece. And not letting the guy twist away in the wind.