Puff Daddy, well that is how we relate a company to price, from either a recursive meaning from the group or a previous price of the company. It never was worth $90, either is BRCM,INTK,YHOO,AOL worth what they are selling at. It is the greater fool theory at work.but you are correct,if the group was selling at 10 times revenues,so should CIEN,it is the meaning derived from the rest of the group. I am working with a professor of philosophy on this right now,look up CS Peirce,and his Theory of Pragmatism.
Hiram |
