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Technology Stocks : Oracle Corporation (ORCL)
ORCL 136.48-6.9%Feb 5 3:59 PM EST

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To: Geoff Trachtenberg who wrote (308)10/11/1996 1:42:00 PM
From: Flan   of 19080
 
I must disagree with you. We are in a different time but what represents real value has not changed. Trying to justify the absurd valuations of most of todays stocks has little to do with a new market enviroment and more to do with investor greed.

Japan in the late 80's was very similar - people were buying stocks with 50 P/E + and the index approached 40,000. The market was way over valued and four years later the index was at 12,000.

I am not a market bear but I have a very difficult time when people try to justify buying companies with insane valuations.

Just a little food for thought.
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