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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 73.87

-0.1%

Jan 9 9:30 AM EST

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To: RetiredNow who wrote (58567)	3/20/2002 6:59:33 PM
From: JeffT	Read Replies (1) of 77400

Hey mindmeld, I agree with you, but my point was that there is a big difference between what a stock will sell for on the stock market and what another company would actually pay for it. Cisco will not be acquired mainly because the price the stock market has on the stock is too high for another company to pay that and have it be a worthwhile investment - as you said. Fear and greed is what drives the markets. DCF is what drives a business to buy another business. These are two completely separate things, and we must always be careful to distinguish between them. One does not equal the other and that is the point I have been making. Ideally they should be the same - but it does not work that way - forget ideal, but remember these words - "fear and greed". Forget them at your peril. When Cisco was at $82, you and I forgot them. Let us not make that mistake again. Then it was greed - we made a bad mistake of not selling into it. Now it is fear. Just because we did not sell into the greed does not mean we have to fall prey to the herd reaction of selling into the fear now. Fear and greed are what move the stock market and not DCF, and why I believe that Cisco will be higher than current levels sometime in the not too distant future. Personally I believe that what the market is looking for is growing revenues and profits. The pundits say inflation, interest rates, and all sorts of other stuff is keeping the market depressed. Bologna! I think the reason Cisco and most other technology companies stock prices have gone nowhere is very simple - revenues and profits are terrible with little prospect for a quick turn around. I am glad you will be lurking on the thread. It is refreshing to be able to discuss and disagree in a gentlemanly fashion. Your lack of arrogance is the exact opposite of some others that lurk here in order to try and feed their own sick egoes by tearing others down, probably because they lack any positive feedback at home or at work. BTW, be sure to continue to harass "you know who" whenever you get the chance as you have told me you enjoy doing! <smile> Jeff

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