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Strategies & Market Trends : The New Economy and its Winners
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To: Mark Fowler who wrote (5920)3/28/2001 9:59:59 PM
From: Randy Ellingson  Read Replies (1) of 57684
 
Mark,

I disagree (and have paid more for many shares I own than I would pay today). Almost every stock I own is in companies which are profitable and stand to grow their earnings at a healthy rate (on average!) for many years. I agree with Buffet on this: real wealth has been generated not by people timing the market but by investors buying high quality companies and owning them for long periods of time. That's my goal. My costs bases are coming down on a couple of my investments, which could ultimately turn out to be a good thing. One thing is for certain though -- this market is teaching long term investors that valuation will always come back to reasonable; there is little argument that the siren of a high rate of macro-economic growth over the very long term will not be validated any time soon. Or is there?

Are there still investors who think this is noise, and that the US markets can resume 15% avg. returns for another decade or more?

Some more questions for any/all:

Which will be the next year that the value of CSCO, INTC, and MSFT together average 30% returns to investors? Will they ever?

In what year will the US markets see the first sustained $1T market cap? 2003? 2010? 2015?

And what is the world's most important industry? Is it software, hardware, telecommunications, health care...?

Randy
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