Semi-Equips - Buy when BLOOD is running in the streets! Message Board

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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!

LRCX 148.32

-3.3%

Nov 14 9:30 AM EST

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To: Thomas J Pittman who wrote (7946)	7/1/1999 12:44:00 PM
From: Ian@SI	Read Replies (1) of 10921

J., My reading of Cary's note was that he was able to pull out his entire initial investment while selling 40% or less of his holding in a particular stock. So I think he was using the amount of his gain rather than any specific valuation measure. Cary, Please enlighten us. I liked PSRs and think I either introduced discussion of that valuation measure to this thread or was close to the front of discussions on its merits. My impressions came from O'Shaugnessy's book What Really Works on Wall Street. In a sector as cyclical as this one, absolute magnitude of PSRs would be a poor indicator of when to get in or out. i.e. Low PSR or PE or PEG is likely to come closer to the Peak than the Trough. PSR's will start rising as earnings prospects brighten. i.e. Price has already gone up long before sales hit the top line or earnings hit the bottom line. And analysts will be both slow and conservative when ramping up their growth estimates. IMHO, Ian.

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