Hi Own,
Agreed, therefore I stated "techish" as opposed to "tech".
AOL no longer qualifies as tech primarily because it now has a sustainable business, with defensible barriers, along with long term embedded value, and can sign a trustworthy check.
Suppose we were to step into time machines and the dials are set for 100 years into the future, and were each given a choice of JDSU, INTC, MSFT, CHL or AOL shares, and only able to pick one. You would be choosing JDSU? No, of course not.
Well, given our agreed internet enabled shrinking of time scale and geographic distance, we are about to enter into that time machine, to emerge after what promises to be a stunning dramatic financial storm.
Given a choice of (pick 2 out of 5) JDSU, AU, AOL, SNE, CHL. What to do?
The limit on number of choices is simply artificial but serves to focus the mind on what really matters for investment, as opposed to speculation.
Chugs, Jay |
