... why is there a craze by the investors?? ...
I'll throw in my guess. Imagine if one had purchased Microsoft in the mid 1980s. They'd be very pleased with the results. Well, most investors missed that opportunity. Kicking themselves, they vowed to never let another winner slip through their fingers. It would be better to buy a dozen losers than miss the next winner.
Anything, and I mean ANYTHING which has even the most remote chance of performing as another Microsoft will attract these people. To Hell with price, value, earnings, market presence, management, products, customer base, and common sense: We're going to be rich!
How many 'death blows' have come Microsoft's way: Netscape, Apple, Unix, Lotus, ...?? We'll soon be adding Linux to the long list.
Cheers, PW.
ACB<$1 |
