Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: paulmcg0 who wrote (14444)	2/28/1998 9:10:00 AM
From: Liatris Spicata	Read Replies (3) of 94695

Paul- I can only note you failed to address my argument at all in which I cited what I believe are significant distinctions between gambling and investing in equities. You cite some higher authority (Darvas' book, with which I am unfamiliar) but discuss nothing of his thesis). <<People who buy stocks with high P/E ratios and low (or non-existent) dividend yields are gambling that someone else will pay more for the stock than they did>> This simply is not true- although as with any stock purchase the buyer hopes to make money on it. Top rank companies among the techs and biotechs pay no dividend (Intel only started a puny dividend two or three years ago). These companies find it in their best interest to reinvest their earnings in the growth of the company, but some of them are tremendous creators of wealth. BTW, tax laws have probably contributed to the shift away from returns in the form of dividends. I find your post devoid any ideas that I can address. Larry

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