Tony, RE: There was nothing like a Cisco, or a Microsoft (who?), or an EMC, or a Sun. There was IBM. The internet buildout is very unique in tech history. It shows no signs of slowing down, in fact may be accelerating in its growth (look at Cisco), with no end in sight.
What else shall we do, pound the money underneath the mattress?
Twenty years ago, tech stocks weren't the rage. Intel was a cyclical that should trade at 10x earnings tops, remember?
The hottest stocks in 1980 were energy companies. It was considered an inevitability that crude was going to $100/barrel, and soon. That was the place to be, then. The prices of energy companies were absurd, though, and there were hundreds of cheap stocks out there if you expanded your horizons a little.
No need to stuff your money under a mattress today. But also no need to buy an absurdly priced stock. |
