Roger,
I continue to think that the market in general and the high flying net stocks in particular are overvalued. But I also thought that at half of today's prices
I also have considered the market overvalued for some time now, which prevented me for a while from investing in the "bull market".
I kept waiting for a major correction, which didn't happen.
I don't really remember right now which year it was, but I finally jumped in with a purchase of LU @$48 when it was "overvalued", prior to the two splits.
We have had a couple of blips down, but I missed them by investing too soon.<VBG>
I have always considered MSFT overvalued, but could have made a bunch of dollars by investing in them at the same time, even though I felt it was overvalued.
My point?
I believe at some point in time the "Internuts" will crash.
The catalyst?
Who knows.
I believe that at some point in time growth will slow to the point that people will value them in traditional measures.
Will it happen soon?
Again, who knows.
I am long a couple of "high flyers", BRCM and ISLD, along with LU, if you want to consider LU a "high flyer", and am simply wondering about my exit point. It's not that I haven't taken some money off of the table along the way, but am simply wondering where it will end.
I know no one has any finite answers, but always have enjoyed your input.
Have fun,
Phil
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