Jake, I think we have a new paradigm now on PE's, and this means the MSFT can hold an 80 to 100 PE. I have made a bundle on it, and on AOL. I think Aol can hold a 200 PE if it can give us 200% growth, but if it doesn't; by, by. It looks like Intel, a commodity manufacturer, is now going to be valued at a 40PE, due to its being a "Gorilla", plus the change in the market.
I think the guys on Wall Street are scared to death that this whole thing is going to collapse around all our heads, and take them down with us. That's a legitimate fear. They know that you, and people like you, have never seen a bear market, or bad times. Hell, look what a little interest rate decision last summer did to the market!
I guess, besides MSFT, you are in Cisco, WCOM, Intel, and maybe Quest and AOL. That seems to be where all of us are. We all know that these are really the safest stocks to be in if we get a downturn, because they will still deliver the earnings. The rest of the market is catching on to this, making our fortunes, and creating incredible PE ratios, by old standards. Looks like a fun year!
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