Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Ilaine who wrote (6299)	7/27/2001 12:13:03 AM
From: smolejv@gmx.net	Read Replies (2) of 74559

A tiny little story: I turned on my radar and went for all the gorillas (big-name, feel-good companies) with PE above say 50. Bought then - among others - AT&T puts. T at the moment is at the UFB PE of 92, and I think this is the trailing earnings' PE. Guess what - I sold them after a month at a loss of app 20%. Reason: some cash deal (I think Sprint or whoever is ready to let T cash in their broadband part of enterprise) and the firm belief in the big-name, feel-good fame of Ma Bell on the side of broad ownership. T is an example of a nest egg ("stick with AT&T, Joe, forget these highfliers"). Right, CB? Imagine there's a crash and nobody sells. dj

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