I can't tell you when, but I can tell you why -- because greed always ends badly, and this market has been trading on pure greed for a long time. You can't combine high debt levels, entertainment lust, no morals (especially if money is to be made), and investment in companies with these PE extremes and expect it to continue up. Patience is HARD, but I'm sitting on my pocketbook. When CIEN trades at a 50 PE, I just may take some! Insiders, like at AOL, are certainly signaling that these stocks are overvalued by their constant selling. biz.yahoo.com
I remain,
SOROS
ps talk about entertainment lust -- I saw one of the NBA "stars" interviewed. He probably makes 10 million a year in salary and perks because we all know it is more important to have a high vertical jump than to cure a disease! Now I could be wrong, but should people crave entertainment so much that they make it possible for someone who uses words like "dat" and "betted" and "bofe" (we're not talking accent problems here) to make this kind of money? It is a sin and a crime for a country to have such screwed up morals and priorities. Rome was a prime example. |
