Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (49678)	12/16/2000 2:21:47 AM
From: Gary105	Read Replies (1) of 94695

I still expect Nas to fall into the teens. Today's drop is typical of how it will get there. Highfliers will come to earth, company by company, as they fail to live up to expectations of perfection. I remember when MSFT (not calling it a highflier) was growing at 30% at trading at a p/e of 25. A strategy that seems to be working for me is to short highfliers (companies with p/e over 100 or with no earnings) on market upmoves, to nibble at value (p/e less than historic growth rate), and to have strong cash reserves. The year after presidential elections is historically the worst year for the market in the 4 year cycle.

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