Joan, with the exception of DROOY, they're off their lows:
quote.yahoo.com
one of the reasons for the weakness is the weakness in the Rand, which was exacerbated by the situation in Zimbabwe. also, since they are unhedged, or have at least reduced their hedge books dramatically, they will only run once the PoG begins to run convincingly. they're like options on the PoG. they are trying one's patience, but you have to look at this as follows: it doesn't matter when they run, as long as the run is going to be big. and i think it will be. i have seen gold rushes on the JSE, where these stocks tripled, quadrupled or more, in a very short time. we're way overdue one imo...lots of stored energy there.
re. CSCO, right, the p/e is beyond ridiculous...as many other tech big caps it has grown to the sky as soon as it broke through its historical p/e range. here are two interesting pieces on tech stock growth rates and p/e's. the second one specifically mentions CSCO, and it is explained in a pretty common sense manner in what way the built-in expectations make no sense, even if the most rosy projections come true:
csf.colorado.edu
csf.colorado.edu
regards,
hb |
