Ray,
"That day will never come"
Does that mean I will always and forever have slow web searches and long download times from my house? I have a hard time believing that today's technology is as far as it will ever go. The metro market is not even here yet, am I understanding you correctly that it will never develop? If so, I'm going back to investing in railroads and banks. <g>
Well, all this talk just reaffirms my belief that the NAZ has a lot more downside left.
On the capital structure analysis, I have always applied "value-investing" to my technology picks. It kept me out of all the internuts, while all my friends were plowing into them, it kept me out of BRCM, BRCD, AMCC, JNPR and the like that were going for 40X book. I was able to enjoy good returns over the past few years and ended up keeping just about all of what I made through this ugly bear market. I am cautious, but I think once some solid tech issues get to 1X book or under (after subtracting all Goodwill from Book Value of course), there should be some good buys. If not, the American economy will go the way of the Japanese and many generations will suffer. As a happy optimist <g>, I have to think this will be avoided.
Than again, as a political science major, I have to think everyone will be screwed. <bg>
Cheers,
Tom |
