How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 474.52

+0.5%

3:25 PM EST

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To: johnd who wrote (14515)	1/19/1999 12:28:00 AM
From: Daiju Kohno	Read Replies (1) of 74651

Johnd, You have obviously done your research on MSFT, but I can't resist pointing out your reliance on PE. If you saw WSW on Friday, Gail Dudack (a bear since '96) mentioned that she overheard someone say that PE is no longer a useful stock-picking tool. Her reply was that if PE's were no longer useful, then the stock market is a casino! This was perhaps the silliest thing I've heard a "professional" say on TV. She (like many analysts and fund managers) relies so heavily on PE that without PE, they feel helpless and clueless. The fact is, the PE ratio is over-rated. (MSFT's PE was considered too high when the stock was at 23 cents!) Maybe that's why so many professionals fail to beat the market- because most of them rely so much on the PE ratio. Nevertheless, thank you for your posts. I find them refreshing and educational. Respectfully, DK

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