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Hi Ken,

I'm still here. Though I didn't wind up putting any money in WIT, I still watch it closely.

I agree with you that at the current price in the 50s, I wouldn't put any money in them right now. I wish I had done so back in the spring/summer when they were down in the 20s, but that's 20/20 hindsight.

My biggest concerns about Wipro and Infosys are as follows:

- Companies are going to discover that outsourcing to India is not as cheap as it may seem. Sure, the labor rates are low, but in my experience, when the company I worked for outsourced some of its software development to India, the associated costs of providing training, equipment, and managing their projects, turned it into a near break-even prospect--far from the cost savings we expected. Also, as the standard of living continues to improve in India, wages will rise, as will Wipro's costs.

- I don't know how much the weakening of the U.S. dollar has affected the Wipro share price. Since an Indian Rupee is now worth more in U.S. Dollars than it used to be, could that have contributed to Wipro's rise in share price? And if so, assuming that the dollar will eventually strengthen, will that bring the share price down?

I'm no expert (far from it, in fact), but that's my take. I welcome any argument you guys might have.

Wishing you continued success,
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