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Non-Tech : Charles Schwab (SCH) -- A tech-stock profile?
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To: stock_bull69 who wrote (425)4/14/1999 12:21:00 AM
From: Peter Goss  Read Replies (2) of 1390
 
I suggest you do your homework Peter.>>>

Actually, when I do my homework is when I have to come to scary conclusions. No investor on this thread has addressed my concerns. They just all say "it's going up therefore it must keep going up."

The homework to pay attention to:

-peak earnings are now; paying an astronomical multiple for the best it will ever be is unsound

-Schwab is not some startup that can grow from a small base. The law of large numbers is a reality.

-Is Schwab really worth two MER?

You have been given a chance to cash out at levels that will not be seen for years to come. But most people on the SCH juice think that it will never end. The stock has tripled in three months - has business tripled? Are earnings tripling? Most first line brokerages have mid teen multiples, but SCH's current price is 140x FORWARD earnings.

I would be interested in hearing some rational analysis, not cheerleading. Why should I buy SCH at $150. Today alone more than $1 billion made that very decision.

As for those other names - I can't even begin to say how scary they are. The internet is real, but the stock prices are surreal. Investors - and I use that term cautiously - are confusing finance with PR.

Congratulations on your profits,

Peter
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