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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: KyrosL who wrote (54528)10/21/2004 3:53:37 AM
From: Seeker of Truth  Read Replies (2) of 74559
 
Hi KyrosL, SNDK is not the first tech stock you have bought recently. Merck is a tech stock. If you strolled around their research labs, actually or mentally, you couldn't describe them as anything else. The big recent drop in MRK came before you bought it, of course but the drop is typical of tech stocks. They are the most dynamic of companies, competing in the most dynamic sectors. Solutions to yesterday's problems are of little use there. Somebody is always inventing something better. Intellectual property gets destroyed by patent suits or rendered valueless by leap frogging competitors. Science and technology have a built in acceleration. As new developments increase geometrically, prediction gets more and more difficult. The researchers on the inside of the companies can't even predict the success of technology they are working on, so outside evaluators, such as we, for example are even less able to do so. I learned all this from Jay and disasters.
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