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05/14/04 8:46 PM

#13142 RE: OldAIMGuy #13137

Hi Tom,

Thanks for the chart. Don C. sent me a longer term one too.

Both NOK and QCOM have relatively low debt, decent FCF (especially QCOM) and Ben Graham's formula puts their fair value at 21.16 and 67.39 respectively.

They both have a decent current ratio (again, especially QCOM) and their accruals ratio is good (especially NOK's).

I like that QCOM gets revenue from its CDMA protocol and if it ever gets going over in Europe and Asia, there will be more dough around than a Krispy Kreme at 7pm.

I've got both NOK and QCOM on my watch list.

I'm off to see the new Troy movie tonight (just doing my share to contribute to Warner Bros.'s coffers).