Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 166.05

+0.6%

3:59 PM EST

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To: PoetTrader who wrote (104596)	9/13/2001 11:16:43 AM
From: Wyätt Gwyön	Read Replies (1) of 152472

hi PoetTrader, as i see it, the real problem is that the market was still tremendously overvalued even before this week's disaster, so i don't think there will be a buying opportunity except for some trades. this issue is quite independent of the disaster (and any related panic trading), and is simply a matter of the elementary mathematics of fundamental returns. the long-term buying opportunity i would look for, whereby i could expect fundamental returns from equities to include a historical risk premium of some 7% over the risk-free rate of return, would require equities to be much more reasonably valued than currently. currently, it looks to me like the equity risk premium is at or near zero. i still expect a multiyear devaluation toward historical norms.

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