Jabil Circuit (JBL) Message Board

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Technology Stocks : Jabil Circuit (JBL)

JBL 213.66

-2.6%

11:56 AM EST

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To: Michael H who wrote (5697)	12/1/2000 5:16:11 AM
From: OldAIMGuy	Read Replies (1) of 6317

Hi Michael, Yes, the fundamentals don't change nearly as quickly as the emotional relationship. A great book on this was written by David Dreman called "Psychology and the Stock Market" in 1977. It's available from Amazon still. Remember Gym class? One kid goofs off and the whole class has to run laps. The same mindlessness happens here on the stock market. Punishment by association. The other side of this coin happened last March. One of my biotechs was admittedly under priced for several years. However, with no change in fundamentals, it soared over 20X in just a few months. Same fundamentals, different interpretation. So, as under-valued as it had been at one end, it was way over-valued at the other. Makes one's guess about "fair value" rather arbitrary! I guess we can use historical data for a fair value calculation and then adjust our risk envelope as the pendulum swings around that calculated share price. ECMs have been Wall Street Darlings for some time, and for good reason. Their growth has been stellar. Assuming that this basic hasn't changed much, they should be darlings again. Best regards, Tom

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