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Technology Stocks : America On-Line: will it survive ...?
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To: Dan Ross who wrote (5701)11/9/1997 10:44:00 AM
From: Steve Robinett  Read Replies (2) of 13594
 
Dan, This VectorVest site is the silliest stock site I've ever seen. It gives AOL's value at about $20 (Doing it the hard way with pencil and paper, I figure about $40/shr, and that's being generous in my assumptions), but then, after doing its robocalculations, it comes to the following conclusion:

"AOL has about average safety with well below average upside potential. It reflects a stock which is likely to give well below average, relatively consistent returns over the long term. "

What in the world does this mean? How can an extremely overvalued stock have "average safety?" What are "well below average, relatively consistent returns?" The stock has done nothing but go up on hype and a prayer. Is that "below average?" Though I'm short this turkey at about $86, at this moment, it is impossible to say the stock has delivered "below average" returns.

Though I suspect you and I agree on AOL's lack of merit, the VectorVest site just proves there's no mechanical "system" to replace judgment.
Best,
Steve
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