Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 172.72

-4.4%

3:59 PM EST

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To: Jon Koplik who wrote (124213)	9/26/2002 6:35:46 PM
From: Wyätt Gwyön	Read Replies (1) of 152472

that is one of the most pathetic articles i've ever read, even for the WSJ's op-ed page. Fleckenstein harshed nicely on that article last night. the whole article's about PEs, and the guy doesn't even say what the PE is (he just mentions that the adjusted PE (which he adjusts with his secret sauce that he doesn't explain), is very low. nice, context-free blather.) also, the guy relies heavily upon the tired cliche that PEs can be high because interest rates are low. this shows he doesn't know anything about the history of interest rates and PEs. Smithers has demolished this bubbleonian argument. people knock the WSJ's op-ed page for being reactionary, but i'd say they're downright liberal in terms of the opportunities they give to logically challenged bubbleheads to express their opinions. Jeremy Siegel and James Glassman also periodically write bubbleonian howlers on the WSJ op-ed page.

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