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Technology Stocks : Atmel - the trend is about to change
ATML 8.1400.0%Apr 12 5:00 PM EST

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To: SemiBull who wrote (13083)8/28/2003 4:13:59 AM
From: Gib Bogle  Read Replies (2) of 13565
 
I'm fully invested in stocks (but not in ATML damn it, I took my eye off the ball!), but I'm feeling nervous. The issue is simply valuations - the PEs are unsustainably high, almost at early 2000 levels. The only way these levels could make sense is if growth rates were also high. So far growth is slow at best, so we are betting on growth to increase dramatically in the near future - next 6 months, say. How is the US economy going? What are oil prices doing?

My plan is to stay long and strong until the shit hits the fan, then jump fast. The problem is, with so many other investors feeling the same way, it might be hard to jump fast enough.

I'd love to be persuaded that I'm out to lunch.

Gib
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