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Pastimes : Home on the range where the buffalo roam
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To: pbull who wrote (11116)3/3/2001 3:08:10 PM
From: Raymond Duray  Read Replies (2) of 13572
 
pbull,

Re: How big is the telco debt bubble? As I understand it, about the same size as the S&L fiasco of the late 1980s.
Optics, photonics, all this stuff is great technology, but the cash flow created doesn't justify the investment.

Let me put some flesh on those bones:

Message 14787142

For the record, I wrote this when AVNX was trading at 86. I predicted a collapse of the stock price. Today, I am completely convinced that AVNX, just to stay with the example, can easily trade in single digits. Every single strut for the sustained stratospheric valuation of this stock is getting cut out from under this high flyer. Yes, even today this is an Icarus with wax problems, IMVHO.

Best, Ray :)
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