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September 30, 2008

2:21 PM

· •• ·· •• tiCl\l~~NM·~.·~l-i)

··· .•• ··.·.iii·.E;X Hie Irii. ... ·····641 ... T>·

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OVER 212-888~9434

RAJ RAJARATNAM (646-521-2980)

DANIELLE CHIESI (212-888-9434)

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UI IA PH II

Dani,

Hey.

Hey baby.

The date is October 7th,

Say that one more time?

The date is October 7th,

Oh, AMD is for sure?

Yeah, Monday.

Right, so. Uh, you know, I was thinking about buying calls on, instead of just blowing out, I don't know that IBM is gonna miss their numbers, I don't know that, I know that, that Moffat's struggling, but they always pull things out, so what do you think about that and any more, you know Halliburt ... , I just, I blew, I wauna, I wanna blow everything out.

I blew it out today, because, I just said, I need to get back to basics, I'm gonna become Mr. October.

Yeah, I love that.

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I reduced my longs to like 12, 15 stocks, right, and I'm just gonna, you know all this shit about Halliburton and Schlum ... all this shit that I hear through bullshit, you know. Urn, I own 25 million AMD.

25 million?

Yep.

Do you think in this environment, I know everybody's being investigated, do you think I could buy it here, honestly? And I'm glad that we talk on a secure line, I appreciate that.

Right. I never call you on my cell phone.

No, no, I know, do you, what do you think I should do though really? Should I buy it here? I'm a little nervous because you know people are going to investigate me. I really believe that.

Why?

Because there are assholes in this world. Because every hedge fund is going to go out of business ...

Right. But I would do ...

... and they're jealous.

What I would do, is I would buy, let's say you want to ...

I'm down, I'm down like 28%, whatever.

What I would do is, I would buy a million shares and sell 500,000. If you want to buy 500, I would buy a million and sell on Friday 500,000, you know? It always (UI).

How much, how much, I have conviction. IBM is, you know my partner, Mark is just always very skeptical about AMD and, but you feel alright, you feel good?

I think, I think it's Monday.

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Alright, I agree with you.

October 7.

Yeah.

I think it's Mubadala, Mubadala.

Oh, oh I know what you mean, yeah, it's called ah, rum uh, right, whatever. Uh, alright, urn do you want me to double check that or no? I don't think I should.

Uh don't, why? I mean ...

No, no, I just wanted to know if you wanted me to cross check it but i think you have enough conviction that I'm just gonna go with you.

And if it changes, I'll tell you.

Yes

Yeah, but Hector told me, Hector told me that he ...

Let's look when they report, ok, eh, urn ...

No, 16th.

So it's before the 16th?

No, no, he told me, Danielle, he went from saying that he thinks everything is fine to it's 110% fine.

The only problem is I don't know what price they're gonna put the moneym.

But if, I, we don't have a fucking choice but to average down.

Mm?

I have to average down.

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Yep.

I mean, the difference is gonna be that Dubai's in there and the difference is that...

And they're gonna say on the press release that they're committing to putting $5-6 billion over the next several years.

You don't even have to worry about it, well, I mean, other than the fact that. ..

And you know what happened?

... people are stupid. There's a lot of us that aren't that stupid. Dubai does not do this, you have to know how rich they are. You concur?

Mmhm. (UI).

So I mean who cares about what they, oh they're gonna say oh my god, you know, only $20 billion and then we're out. What the fuck. Dubai's in this for the long run, they're not going to back out.

Right.

So they don't have to say shit in my opinion. I'm gonna buy a million.

Yeah.

And you're long 25?

What?

I'm only long like 4.

I'm long 25 and I'm taking the pain, but I'm you know, I'm a warrior, they can't, they can't kill me. October's my month.

I love that and I'm (UI).

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