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Non-Tech : Any info about Iomega (IOM)?
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To: Sturgeon who wrote (6253)8/20/1996 9:57:00 AM
From: Al Van Putten   of 58324
 
FYI
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Stock Brief

Bottom Fishing

[ Scrolling Market Commentary | Market Calendar | Yesterday's Market Brief ]

Daily commentary updated for Aug 20, 1996

In Monday's Stock Brief, we listed a number of high-flying stocks. Interestingly, there wasn't a high-tech company on the list. Not for a lack of candidates - PeopleSoft and Cascade Communications quickly come to mind - but in order to show a trend. Given the recent turbulence in the high-tech sector many investors are opting to shift or place their assets into more secure names - those with proven earnings reliability. Consequently, stocks that are typically labeled conservative holdings such as Coca-Cola, Disney, Colgate and McDonalds are now trading at rich premiums relative to the market, and to their own historical valuation levels. At such multiples these stocks should no longer be considered conservative investments. To the contrary, they carry relatively high price risks over the intermediate- to longer-term.

Meanwhile, many technology stocks are now trading at deep discounts to the market and to their historical valuation levels. In addition, these stocks are expected to deliver greater than market revenue and earnings growth over the next few years. While there is a greater near-term price risk associated with such stocks, they should deliver better long-term returns than the "conservative holdings" highlighted on this page yesterday.
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Interesting piece.
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