Venkie,
I'll ask you the same question I put to Zeev. You seem to be one of these people who talk like the broker spokespeople do. They just say the market always goes up, so be a bull long term. I am really wanting a answer. If everyone just blows smoke and can't answer questions, what good are they? They begin to look just like the people pushing stocks for their own gain. So, don't blow this off. I am really at a loss and want to hear from someone who IS knowledgeable. Since you seem to want people to believe that you know what you are talking about, I give you this opportunity to show it. Thanks.
I've looked at this from every angle, and I still scratch my head. My only answer on a basic level is greed and some constant short covering, but still I don't get it. I have seen no one offer a plausible explanation for these stocks to remain anywhere close to these levels. Do you know anything about any of these individual companies and what could possibly justify these prices? Are any of them going to have such an uptick in business that the PEs would even come down to historically HIGH levels? What kind of idiocy is this? I can see the "don't fight the trend" kind of reasoning, but this is getting ridiculous, is it not? Do any of these companies have some lock on a technology that is a sure thing that will bring them huge revenues ANYTIME SOON? I suspect I will never get a satisfactory answer. The "analysts" on TV never say jack squat. They tap dance around why the market should be bought, but say nothing to answer the obvious problems. Look at the first group, and tell me what they have so special and WHEN it should pay off if you know. When will they actually have earnings -- that is REAL earnings -- not pro forma, investment income, write off BS! Then the 2nd group -- when will they have such an uptick in earnings or reduction in costs to bring their PEs down? Is everyone waiting on another quarter to see if business is returning? They waited on the 2nd quarter, then made excuses and waited on the 3rd, made excuses, the 4th was for sure, and now we're on to 2002. Why are people willing to hold a stock with a PE of 100 if it is not coming down for 2-3 years at least and may actually get worse? I think games rule the day. Only in the past 2-3 years would anyone have held these stocks this long or certainly no one would have bought them at these levels. Am I missing something here? I stand ready to be shown I am a raving lunatic and idiot. Thank you.
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