Gersh, I monitor Bill's thread on a regular basis!
It does pose an interesting visual image. When I got into this scene was about the time that FA ceased to matter. As MG pointed out a couple of weeks ago, at some time TA fails to matter. When the Market believes that a stock should be valued at 95x 2001 estimated earnings, it is time to pause and consider the issues.
The Lord is my shepherd, I shall not hold! While this credo has not been particularly beneficial in 1999, I will continue to stand by it! We are clearly in voodoo land and the Stewart's of the world reign supreme.
It seems to me the that the Pirates are posed to rape and pillage the monied folks. Such it has been and continues to be.
As we enter the wacky season, where both FA and TA does not matter, I hope all will consider the implications. Whether it is the next dot.com stock that it is reasonably valued at x times its revenue, GE at 3x+ its earnings, or CSCO at more than 5x its projected growth rate, we are in the wacky season.
It really does come down to "know when to hold and know when to fold" and "to know when to walk away and to know when to run."
Shall we live in interesting times! To TM and KB, we have witnessed over and over that parabolic trend lines end rather nasty. That said, liquidity dictates that this run will exceed our wildest expectations; but, when the music stops, I hope you find a chair!!
TB |
