Doug, There are plenty of loonies everywhere. You could come up with USA legislators whose views you wouldn't want adopted as official policy. They tend to get more press when things are turbulent. Hopefully the naive don't seek a 'solution' from any of them. You need only go back through the 20th century to see the outcomes of their solutions. Some of them are final.
The Japanese legislator [who was quoted in English, by some reporter, so it wasn't strictly the horse's mouth in fairness to him] seemed one of the more rabid. But he reflects a trend which people I respect [such as Brian Victoria at Auckland University] have suggested is becoming more popular in Japan. See Fujimori's activities in Peru and Japanese support for him. The new Samurai.
Racism, nationalism and all they entail in the way of introspection, trade restrictions, circling the wagons against aliens, the odd war or two are not good for stock prices and happy trading in the global village. Japan will be prone to it. As will others.
Meanwhile, back in the jungle, Ramsey, as Gregg says: "By my (conservative) estimation, Qualcomm is now trading at 1.0x Fiscal 1999 revenue, 14x FY99 earnings and 2.3x FY99 book value."
7% earnings in 1999 on the current share price is not to be sniffed at. What do you get for your money in the bank? And 1999 is not going to be the best year. Check out Qualcomm's growth rates, long history of success, market opportunities [which are not that hot in Russia right now] but excellent most places.
Limtex can enjoy his "Natural Home in the Forties" for a short time. But then, back to the $80 figure. I expect by 30 September 1998! Bound to be right one of these months. Missed two now. Third time lucky?
Ramsey, "Not only are we not seeing growth in many regions of the world, we are faced with shrinking and dying economies" Good grief, you have to be kidding. People aren't going to just lie down and die. Sure there will be reshuffling of who owns what, the bad investments in unoccupied property will be written off, banks will go bust, Hong Kong reserves will be depleted by share price support efforts and stuff like that. But what matters is how much profit Qualcomm is shovelling into the till. They are doing just fine. All indications are that they will do even better! Stockmarket crashes or not. Russia in turmoil or not. China is a bit wet just now, but they'll dry out [or freeze up since winter is arriving]. People are still going to want to yak away or gabble, depending on the lingo they use, on cellphones of high quality with Web access and IP dialling. Qualcomm's the one. The cdmaOne. For cdma2000 too.
No worries, no queasy feelings. No white knuckles.
Mqurice
PS: The "Click Here" url, which runs away from you when you try to get it, can in fact be got. You just have to know how to do it. You can move the mouse quickly and you get it. Plus a little message "You win". No checks arrive in the post though. No, I didn't spend long on it! |
