Hi I2:
Last March, I posted the note you responded to. You asked
what my point was. I decided to let time provide the
answer since time is more illustrative. Below is a brief
excerpt from my note that you responded to. It is from a
book describing the late 1960s. Below that is a new table
showing stocks from this era with their highs and current
price. I hope this clarifies the point I was intending to
make last march.
---------
"Too many Freds, " I heard Babson mutter, and then he
said , "Should a manager who puts Parvin Dohrman into a
client's account be allowed to advise anyone again?" Parvin
Dohrmann had gone from 142 to 14.
"I have a list here," Babson said. He pulled it out and
began to read.
"Four Seasons Nursing Homes," he said. "The high was ninety-
one and the low is bankrupt. Anybody that went to bed with
Four Seasons-----"
"David," I said gently into the microphone. The audience
was beginning to rustle. You can tell something has
happened to the good feelings when the water pitchers start
to clink nervously against the water glasses in a rising
cacophony."
"Commonwealth United," he said. "The high was twenty-five
and the current price is one. Susquehanna, the high was
eighty and the current price is seven. Unexcelled, the high
was sixty-eight and the current price is four. All great
institutional favorites."
The audience was beginning to scrape its chairs. My massive
group therapy session had taken a sour turn. Nobody was
going to confess if they were being accused."
"Computers," Babson said. "Management Assistance, forty-six
to two. Levin-Townsend, sixty eight to three."
-----------
Stock High 12/13/00
CMGI 163.50 10.37
EELN 22.75 1.07
EGGS 23.87 1.07
EWBX 55.62 13.00
OMKT 65.50 2.00
RNWK 96.00 14.89
YHOO 250.16 35.00
SCNT 133.75 3.30
DCLK 135.25 13.50
SPLN 83.25 6.63
DRIV 43.62 4.50
OMKT 65.50 2.00
STRM 61.00 3.80
ATHM 53.25 6.92
PCLN 104.25 2.22
PSIX 60.94 1.50
VNTR 243.50 1.75
RTHM 50.00 1.30 |
