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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 78.43-0.7%Jan 29 3:59 PM EST

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To: kvkkc1 who wrote (56774)1/17/2002 12:09:35 PM
From: Dave  Read Replies (1) of 77400
 
irrationality is a portion of the market. Valuations increased, the sec allows corporations to present "pro forma" numbers, etc.

With the commerialization of the internet, one would think investors would get more "sophisticated", however that is simply not true. Too many "investors" got too carried away regarding market returns and chased stocks; valuations got way out of whack causing people to think that stocks should trade at double and even triple digit multiples of N+5 earnings expectations....
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