I've watched this thread for a while and it is too much fun to
resist piling in, although after 22,000 posts is there anything
still unsaid? Well, in any case, I will repost something I put on
the XCIT thread a couple days ago.
I would like to add some additional perspective for tech investors to reflect on. I have lived outside of the United States for the past two and a half years (in Vladivostok and Moscow, Russia) and this has given me an unusual vantage point to watch what is going on in the incredible American economy. The worst company in Silicon Valley would be the best company in this country, and in a lot of others, I suspect. Yes, the quality American technology companies are now quite expensive. But looking at the big picture, the European Welfare State is in its death throes, Japan is a demographic and regulatory nightmare, and the emergence of free market capitalism around the world is creating dynamic new markets for American products and services. Thanks to W. Edward Deming's vision of total quality management, a new focus (passion) for quality, teamwork and customer satisfaction has become the norm in the modern American corporation. America stands alone in technological and management leadership at the cusp of the new century. Will techs continue to give us a bumpy ride??? Yes, of course!!! But is there any better place to be invested right now than in the American technology sector? I think that question answers itself. A tectonic shift is occurring in the global economy, and even now its effects are just beginning to be understood. Stay fully invested in quality tech stocks for the long run and you will be well rewarded. |
