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Technology Stocks : Vitesse Semiconductor
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To: Bruce R. Schlake who wrote (3384)2/29/2000 2:34:00 PM
From: Chuzzlewit  Read Replies (1) of 4710
 
Bruce,

If you look at history you will see many bubbles, and they all end badly. The nifty fifty was a good example. Right now we are seeing a bubble in certain tech stocks including semiconductors, biotechs and network infrastructure and software. Many of these companies are trading at prices that simply cannot be sustained over the long run given even the most optimistic cash flow projections. That argues that sooner or later, VTSS will trade at significantly lower levels than it's trading at today.

When I invested in VTSS (at around $23 per share) I expected the stock price to grow at an annual rate of 30 - 40%. Instead, it has grown at well over 150% with no change in the fundamentals in the interim. Sooner or later we will see a reversion to the mean. Why kiss my extraordinary profits goodbye?

TTFN,
CTC
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