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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: Mike Buckley who wrote (1384)4/21/1999 7:33:00 PM
From: Mike Buckley  Read Replies (1) of 54805
 
Speaking of making mistakes ...

Yesterday I wrote: Ericsson paid almost five times sales for the money-losing infrastructure biz.

Ahem. When I saw that the infrastructure biz had $24 million in revenue, I didn't realize it was quarterly revenue. I mistakenly thought it was annual revenue.

Now that I understand that it was quarterly revenue, the fact is that Ericsson paid a little more than 1 times sales, not 5 times sales. That makes more sense.

I have to subtract my comments about price-to-sales ratios from the arsenal of supporting statements, but my other comments about traditional valuations remain unchanged. Not that anyone cares about yesterdays thoughts about traditional valuations, now that the stock price increased nearly 40% today. :)

--Mike Buckley
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