Ian, <I don't believe that you're doing any of SI's readers a service with your undying loyalty to RMBS. There's a huge amount of optimism already priced into the stock.>
You know, I felt the exact same way about QCOM back before they announced their 4-to-1 stock split. I felt like it was already overvalued, that the investors had already come in and pumped this stock up to extreme P/E levels. After all, 200+ was rather high even for QCOM back then.
Now where is QCOM? High 300's. The 200's turned out to be a steal.
Now all you RMBS bears, please sit down. Even I know better than to expect RMBS to become another QCOM. My point, however, is that I certainly don't consider RMBS to be overvalued like you do. In fact, I think all of the negative press surrounding RMBS is doing a great job keeping the stock from becoming inflated with high expectations. After all, when the words "Rambus" and "controversial" is often used in the same sentence, I think that usually has a detrimental effect on valuation, don't you?
By the way, I think your statement, "I don't believe that you're doing any of SI's readers a service with your undying loyalty to RMBS," was uncalled for. Or perhaps you're the one performing the disservice by scaring readers away from RMBS?
Tenchusatsu |
