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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: shamsaee who wrote (25805)6/4/2000 5:49:00 AM
From: Seeker of Truth  Read Replies (1) of 54805
 
The truth is we are in the middle of a technological revolution. Computer use is still growing rapidly and on top of this we have the broad band/internet explosion. I can't think of any of our gorillas or kings that isn't involved in this. The growth rates are unprecedented. The P/E's are unprecedented. The volatility is therefore inevitable. There are examples all around of failed companies, crushed by one or more gorillas or by their own mismanagement. Also most people remember the low P/E's which even growth stocks had. People see that they can buy a conventional company for 20 times earnings and wonder how can a new company be worth 200 times earnings. Confusion reigns and the volatility continues. But I can't see a general and prolonged slump in the tech stocks, precisely because there are so many people developing yet newer technology and the progress gets faster and faster. For those companies smart enough and well enough capitalized to keep up with the trends, it's a marvelous time to be in business. I agree that it's best to keep cash for 5 years but I don't think it's necessary to hold cash reserves for 10 years. That's a matter of how nervous one is, of course. I personally simply don't fear the world of 2010. The general market probably will have indifferent performance in the next decade but IMHO that won't be true of the best tech stocks.
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