Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 171.54

+0.4%

Nov 10 3:59 PM EST

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To: Art Bechhoefer who wrote (121903)	7/22/2002 9:34:56 AM
From: Wyätt Gwyön	Read Replies (1) of 152472

But if you really believe the overall market is at or near a low, then why wouldn't you be better off buying the real performers, instead of a mixture of performers and dogs? hi Art, you list QCOM as a "real performer"...i guess that is true if you've been short the stock all year, but i don't see how it has performed for longs. it was one of the first major stocks to take out its 9/11 low and remains well below that level. in spite of that, and even though it's down some 85% from the peak, its price to sales ratio is among the very highest on the SPX. and not because they have done a wonderful job of retaining earnings over the years... i think one of the fundamental rules of investing is to not mistake a great company for a great stock. as for why index, there is an enormous body of research showing that indexing is superior, although of course individual results may vary.

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