EMC How high can it go? Message Board

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Technology Stocks : EMC How high can it go?

EMC 29.05

0.0%

Sep 15 5:00 PM EST

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To: John Koligman who wrote (14588)	10/5/2002 1:25:36 AM
From: Gus	Read Replies (1) of 17183

Playing armchair investment banker is always fun, John, but in case you haven't noticed, the M&A market and the IPO market are practically at a standstill right now. You also forget that most companies now have standard poison pills in place that make it virtually impossible for any company to complete a hostile takeover. Nobody even tries anymore because it's just too darn disruptive and expensive without any assurance whatsoever of success. In the case of debt-free and cash-rich companies like EMC and Sun, companies that are not exactly burning cash despite their lack of accrual profits, the low share price is only a problem if everybody else doesn't have that problem. That's just not the case. Everybody's multiples are compressing. Relative valuations are mere hit and run incidents. The efficient market hypothesis did not work at the peak of the last bull market and it certainly won't work at the bottom of this bear market, that's for sure.

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