Oh, boy! Jay, I just signed up to Gruntel's research trial today, and was glad to see your post.
RAISING TARGET PRICES TO REFLECT MORE AGGRESSIVE EXPECTATIONS
Do you understand the logic of this? The stock's going up, so we'll say its going higher?
I'm not upset, I'm just starting to think that the whole market is getting a bit hysterical. I watched this thing on CNBC yesterday where the NAZ unveiled this giant Jumbotron chummy in Manhattan.
Then, this futurist guy came on and explained (I paraphrase)
...rock n' roll, the sexual revolution and popular sports are all distractions -- the new national pastime will be stock market speculation.
I think that according to contrarian strategy, I should be short the market right now. But this is kinda like a party where you're afraid to leave in case something great happens after you go. In the case of JDSU, its a great party and it keeps getting better.
Can anyone articulate why, at this lofty level, JDSU might not "try to take advantage of the high price of its currency" -- as the phrase goes -- and buy some companies that trade at inferior PE multiples?
I mean, this would allow it to "cheaply" scoop up companies with earnings, apply these to its bottom line, and then demand a higher stock price according to its prevailing multiple. |
