tcmay, RE: Only retrospectively. How many people 2-3 years ago were predicting Amazon's price collapse? Sure, some were. Many weren't.
It's always easier to retrospectively realize which investments were turkeys and which were winners.
First of all, it is very important to note that Grove did NOT get caught up in the mania of 2 years ago. He bought AMZN and WBVN after their price declined significantly.
And yes, I do look a little negatively at those who did indeed get caught up in the bubble mentality. If you thought for yourself and refused to let your perspective get clouded by delusions of Internet riches, it was patently obvious that things would end the way they did. Grove, to his credit, was not part of that group.
Oh, and I don't see a reluctance to sell Intel at $75 as a big part of the bubble mentality, either, although paying 50x earnings for Intel is certainly a bit much.
Don't ask me what I think about AKAM, though, OK? |
