Twister, As true as your statement has been over the short term, it doesn't hold water longer term. The tech cos. do go down and stay down or out forever. Try looking at an old Value Line from the 1960s, 1970s, or even the early 1980s and look in the tech sector. The majority of those stocks are no longer with us. Chip cos. especially. We used to have 12 US DRAM cos. Now we have one. We used to have a couple of dozen pc cos., now we have about half a dozen. The simple fact is, by making money loose as a goose, AG has saved many cos' bacon temporarily. However, he has guaranteed that their will be more bankruptcies when the excessive printing comes to its inevitable halt.
One place Fleck and Hickey, et. al., have erred is in remembering AG when he criticized the causes of the The Great Depression and not expecting him to make exactly the same mistakes. But, it is different when you write articles and when you have power. Just because these cos. didn't go broke this summer does not mean they won't next year or the year after.
But, even if their business someday does come back, why shop these overvalued stocks for buying opportunities when there are much cheaper stocks all over the globe begging to be bought? Makes no sense. Yes, the public always bets on the favorites, but the winners bet on the dark horses.
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