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Technology Stocks : American Power Conversion

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To: Woody_Nickels who wrote (1483)	6/19/1997 12:48:00 PM
From: Bob G	of 2574

To: Ken, Peter <<Fundamental analysis is NO BETTER at predicting the future than TA, but the past does repeat it-self and those who learn from the past will profit. I did!>> I'd have to agree with Bill Tippett and Douglas Hurd. I've recently read a book entitled A Random Walk Down Wall Street wherein the predictive value of the past as to future price movements is pretty well dismissed. Additionally, learning from mistakes of the past, such as abandoning Fundamental Analysis, is documented quite nicely through out historical markets. This practice of market sentiment over FA is referred to as "Building Castles in the Sky". Don't get me wrong I like a good graph too! Sort of gives me a nice summary picture against which I can analyze the fundamentals. I guess what I'm saying is a company with good fundamentals usually grows within a relative P/E range due to the fundamentals NOT because of the "Castles in the Sky". Therefor FA is better at predicting the future. IMHO Bob G

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