The Justa and Lars Honors Bob Brinker Investment Club Thread Message Board

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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread

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Jan 8 4:00 PM EST

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To: Boca_PETE who wrote (1032)	4/14/2001 10:24:30 PM
From: Hank Stamper	Read Replies (1) of 10065

Well, the Barron's article makes some sense to me. I've been looking at individual stocks in recent weeks. I bought back into JDSU a bit. The (normalised) p/e was about 19 when I bought a week ago Wednesday. That was a good price I reckoned given that JDS Fitel (one of the progenators of the current firm) had an historical P/E priort to the bubbleonia in the mid 20s. I have looked at a lot of other companies in the last three weeks from the perspective of historical P/E-before bubbleonia and can write that there are no real bargains out there. In fact, most of the big names remain over-priced from the perspective of my criteria. Someone recently posted somewhere--here? Wally?--some coments by Buffett that he sees no bargains in the present market. My efforts square with Warren's comments. The other thing that is on my mind regarding the market is sentiment. Even as bad as the market has been, I missed seeing commentary that 'stocks are dead.' Instead what did we get? We got, 'it's real bad out there' and 'where's the bottom?' I assume the true area of the bottom will be marked by layoffs at CNBC and major layoffs and very bad earnings news at the brokerages; and several recent entries into the brokerage market will go under. I also assume the true bottom will see a lot of commentary that says 'there is no end in sight to this terrible bear market.' I assume we've got to see a market nadir as (or pretty near as) dysphoric as the zenith was euphoric. By these measures, I reckon "we ain't seen nothing yet." However, I hope we get that CTR so's I can unload my quackers and JDSU. Ciao, Hank Stamper

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