 It finally happened. We're getting together for a monthly club call and for once I'm not kicking myself about our tech exposure. I can't tell you how many times in the last six months I've said to myself, no, no, no, you can't go buy more tech. You can't buy more than Apple and Alphabet and Adobe and Cisco and Facebook and DXC Technology. But I wish they would change that name so it works a little better. Western Digital plus of course NXPI Semi where we still hope to get an activist who will get Qualcomm to pay a higher price than 110. For once I don't feel like a loser for wanting to be somewhat diversified away from tech if there's so many months and months of wanting to be an all-tech charitable trust. And my biggest point of angst for ages was just not recommending even more tech than we have but now you see why. You just can never put yourself in a position where you lose a gigantic amount of money in a given session or two. Especially if it's because of something as simple as not being properly diversified. You're likely to take your eye off the ball and be so distracted as to at times miss the next good chance. And at worst, pull up your tent and go home. Something I'm hell bent to prevent you from ever doing as I saw so many times in my career particularly in 2000. Sure it ain't lost until you take it off the table and book it but you know exactly what I mean. A ten point round trip even for something as terrific as Apple or Facebook where we have amazing bases is out and out painful. The power of diversification is the power to be able to stay in the game regardless of what happens. Now we didn't use the decline to buy tech. Heaven knows we have enough. But if you don't own any of the top rated tech stocks these sell-offs are when you have to do some buying. How do you do it? Okay let's just take some real life examples. The two texts that I think we have that have the best prospects in 2018. The ones we have rated the highest are Facebook and Alphabet or we know it as Google. Those are the two that if I wanted to say own 200 shares of I would make my move on 25% of the position when these stocks have declined 8% to 10% from their highs. That's my old benchmark. To make space for Abbott we sold our Yulet Packard enterprise and I want to spend some time on that one because I want to talk about recognizing when something's going wrong and taking action. Club members know I play with an open hand okay. We got involved with HPE because I had been a firm believer that CEO Meg Whitman was creating a lot of value here with their various spin-offs and split-offs and that her enterprise business plus the cash it would have generated would make it so we had a nice chip in the world of enterprise technology. Well it turned out it was HPQ that was the better one not HPE. As we told you in one of our previous calls Whitman failed to deliver two quarters ago. Though she explained at the time that a lot of the issues were one off and that management was distracted because of all the changes. Now I gave her the benefit of the doubt that seemed right to me when I interviewed her at least as far as the reliable Whitman could explain it. But when she reported the quarter two weeks ago there was nothing that stood out as all that positive. Nothing. In fact I think the company took a step back and lost out on a lot of business that had been there as the previous quarter which was not so hot in itself. So we told you to sell and we waited the obligatory three days as I had interviewed Meg so we were restricted and then blew out of the position. Adam P writes how do you view Western Digital's potential opportunity leading up to the announcement of the Shiba chip deal. Now a lot of people think that the Shiba chip deal will be announced tomorrow. Let me explain the dynamic here. Western Digital bought Sandus. Sandus had a partnership with Toshiba. Toshiba got in trouble with the big power plants that it builds. Nuclear plants took the overruns in Southern with Southern the our utility company. So they are on the they're teetering on bankruptcy. They badly need the 18 24 billion dollars that is that they could sell their half of this flash business to if Western Digital can get that that business. They will have a hammerlock on flash where pricing is still going up. The other company that would benefit by the way just you know Micron was flash and DRAM Western Digital has disk drives and flash and I think the company is doing incredibly well. We did buy it for trade because you can't really own disk drives or commodity business and expect that the cycle will last forever. Eventually more people of more companies come in and they build more plants and when they build more plants then the pricing goes down. But what we're looking at just so you understand is two ways to win. If Western Digital gets this Toshiba asset and I think they will the stock is immediately could get hit immediately because they have to do a big secondary to raise capital unless they have a lot of partners. But if they don't have to raise capital I think the stock goes to right to 100. Otherwise when they report I think you can go right to 100. That's how undervalued I think Western Digital is. We've obviously made some great we don't like to trade but we've made some great trades here in Western Digital. I hope you've been there with us. It's one of the only trading stocks that we have. Next is from Robert Kay in North Bay Village. He writes, although I know Apple is an investment not a trade. The stock value has reached about half of my portfolio. Is it worth selling the less in my exposure? The answer is you have to do that. Now my rules vary between having 10 and 20% of one stock in your portfolio. If you have a five stock portfolio it's certainly going to be a lot of 20% in a one stock. If you have a 10 stock portfolio and you have 50% in Apple you've got to cut back. Now is this the right time to cut back? We did downgrade it to a 2. The stock has had a very big run. It's down today. It's down 89 cents. What I would do is I'd scale some. I would scale some. I would sell 10% right now. I would sell 10% right now. And then I would at that point let it go up a little more. But yes you have too much Apple. That rules 20% max. I know you don't want to take the tax bite. You can do it slowly. I don't see a big down move coming in Apple. It is an investment not a trade.