Bill....All IMO
re CNBC comments: Let me give you a hint as to why showing a chart from the 1987 crash (tech index) vs. today is irrelevant...
I-N-T-E-R-N-E-T
Certain companies (not all!) will be growing at fantastic growth rates for many years due to the outgrowth of the internet..They will maintain high PE's for many years......These companies will have tremendous growth, little/no cyclicality with their revenue and earnings, because the internet is going to grow (same with wireless, broadband) at a fantastic clip regardless if bond is at 6 or 6.5%, regardless if yen/dollar at 100 or 110 or 120...regardless if Germany grows at 1%, 3%, or 5%...
It takes a visionary to see a revolution...this one is not that hard to understand......try reading Drucker's article in the latest Atlantic monthly..
re: who to invest in? Think plumbers...(not e-commerce)
Now if you want to be negative on Coke, cyclicals, Amazon, and many others...ok....but you specifically, constantly attack high PE techs (without distinguishing).........uh...this strategy has not worked/is not working...
Anyway, what is your group's return this year...last 3/5 years?
Tice is up a whopping -10% this year... |
