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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: DOUG H who wrote (6455)	3/14/2005 7:21:30 AM
From: Walkingshadow	Read Replies (1) of 8752

This came in over the wires...the market has priced GOOG to discount earnings for another millenium or two into the future: LOL! GOOG Google mentioned as being worth $25 by fund manager; EBAY assumes 'a gigantic earnings growth rate for a million years into the future' Barron's interviews Ben Fischer and Cliff Hoover of NFJ Investment Group, a 16-year-old investment boutique based in Dallas and, since 2000, a unit of Allianz Global Investors. Hoover says that the intoxication of the QQQ culture still lingers. He suggests that, historically, it takes the second or third leg down in a secular bear market to fully cure that intoxication, and we're not there yet. Today, instead of WorldCom there is Google. Google is priced so that it discounts the next 2000 years worth of earnings. Google is worth about $25 a share. eBay (EBAY) is trading at 17x sales, which assumes a gigantic earnings growth rate for a million years into the future.

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