"Story stocks"
CSCO has a marketcap of 461B, trades at 154 multiple
of earnings, pays no dividend.
So what makes that story so wonderful?
Liquidity--Cisco traded over 100 million shares today.
Just take a little nibblin' off each trade, sweet!
Biogen by comparison only did 5M shares--no money
in churning that!
Of course Biogen doesn't pay any dividend either, but
at least it is only 27 times earnings. Biogen should
do a little shoppin while biotech is down again...
Or Genzyme, 20 times earnings, 1.4M shares traded today,
they probably don't need to do any shopping. Dang,
I should own that one.
So when each of these aholes comes on teevee and spews
"buy CSCO, MSFT, INTC" over and over and over again, who
are these guys really working for? |
