Yet another WS moron bashes Iomega: Read on:
Tonight on PBS's nightly business report, they had a guy
named Richard Scarlatta, of the Sutton Advisory Letter.
He was asked by Paul Kangas of the market conditions in
general, and he seemed positive overall, and said this
bull rally will continue past this breather and the Dow
will hit 6000 by the year end. Then he was asked about
his favorite sector, and he replied "technology". Went on
to say, the tech sector was oversold and there were a lot
of good bargains out there. When asked about his favorite
tech sector picks, he replied "Compaq and Texas Instruments.
TI has been hit unfairly in the recent NASDAQ correction and
it will definitely rebound. Compaq is well positioned in
the PC business and will profit from Microsoft's Windows NT
operating system." He was then asked, almost baited by the old
fogey Paul (who by the way is a throwback to the 50s because
of his pompous, antiquated and arrogant style and his newsreel
like drawl), "What do you think of the recent high flyers like
Presstek and Iomega? Would you play with them at this point?"
To which the moron in question replied, most predictably, "Those
stocks are examples of very speculative, pure momentum plays. Iomega
and Presstek have had their days and we will never again see
the kind of prices we saw before the recent correction. I would
stay away from those stocks".
It amazes me how these ignoramuses repeat verbatim what their
equally misinformed, technologically challenged counterparts
say elsewhere. It is almost beginning to sound like a mantra.
They are not even creative enough anymore to put new spins on
these verbal assaults. Not only that, not one of them has so far
given a logical, fact based analysis on why we should give their
mindless repetition of these rantings and ravings any more credence
than the sound of Bart Simpson's fart.
Enough said.
Kunal |
