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Strategies & Market Trends : Technical analysis for shorts & longs

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Dec 24 4:00 PM EST

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To: j g cordes who wrote (16628)	6/17/1998 8:43:00 AM
From: Glenn Omura	Read Replies (1) of 69207

M&As today ARE different from 1980's. The strategic driving force today in the tech sector is the Street. The Street expects growth NOW; the tech company has to deliver however it can. Given the accelerated life cycles of technologies AND companies, the old smokestack manufacturing sector planning time horizons and growth rates are not good enough. This is why P/Es are irrelevant and P/Ss are more relevant. If a company can't get it up using its own wits, the Viagra pill of the 90's is M&A. Even at $10/pill (less at Wal*Mart and KMart!)its a cheap way to achieve growth...the problem, of course, is to maintain it after the passion is gone. Glenn

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