Semi-Equips - Buy when BLOOD is running in the streets! Message Board

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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!

LRCX 159.82

-3.9%

11:45 AM EST

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To: Cary Salsberg who wrote (10542)	7/24/2002 1:28:16 PM
From: Rock	Read Replies (1) of 10921

Cary, I see your point but I think you're being a little short with it. Historical values of P/B and P/S can be solid guides to tell us what investors will pay for the earnings growth and earnings reliability of a good business like, say, AMAT. Comparison of the historical values to current values can be reasonable guides for buy/sell decisions on that business or similar businesses. Heck, you cite your own version of this type of analysis fairly frequently, right? However, as you imply, historical values are less informative for comparisons of companies in different businesses (i.e. absolute measures are messy). I'd also add that they're not much use for evaluation of companies in the unstable growth or failure stages of their evolution.

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