Jacob, [edited] Barron's cover story lists overvalued stocks, GE at the top [sic]...
excerpt
Other "Seal of Disapproval" winners include tech heavy hitters Applied Materials, Cisco Systems, Intel and Microsoft, as well as Amazon.com. A perennial favorite on the "most overvalued" list, even after it had plummeted from all-time highs, Amazon has rallied 118% since mid-September, its path greased most recently by a better-than-expected quarterly earnings report.
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Whether we agree or not, Barron's is influential.
However, this cover story is about money managers' picks and pans and goes on to say...
The fall 2001 survey upset the relative balance established in recent polls, as the 10 stocks the managers had deemed most overvalued actually outshined their picks. Favored stocks such as Tyco International, Calpine and AOL Time Warner unraveled amid earnings and accounting concerns.
If someone needs the whole article, pm me.
I get the distinct feeling this is an effort to drive the leaders down.
[edit] PS: GE is expected to earn $1.65 in the Dec 2002 year, so its PE is under 20. That's overvalued?
Gottfried |
