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It's tough, my guess is more $$$ have been lost shorting CSCO than any stock in the history of mankind. However, it's overvalued, I'm patient, and if net redemptions occur, this mess will implode nicely. As the stock descends, all those vested emloyee stock options then become overhead supply. I think in the unwinding we will soon witness, being a "large institutional holding" will become a liability, not an asset (at least during the panic/redemption stage). Afterwards, the so-called wisdom of funds invested in large cap concentrated tech holdings will be discredited; J6P will not go near them for years, and they will drift down to fair value. Besides, since everyone in the world is in love with this stock, its the absolute, ultimate contrarian play (other than physical gold), don't you think <g>. |
