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Technology Stocks : Gorilla Game
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To: Shane M who wrote (351)1/22/1999 12:12:00 AM
From: Mike Buckley  Read Replies (2) of 387
 
Shane,

>>my study of market manias indicates that most observers at the time prior to crashes feel that high valuations [of the Nifty Fifty] were justified and absolutely didn't see what was about to hit them. <<

I haven't studied it as you have, but I've read that about the Nifty Fifty. The sad part is that this time around the trend seems to be to ignore valuation altogether rather than justifying their heights. "The Gorilla Game" makes no attempt to quantify valuations. Though I haven't yet read the Gardners' new book, "Rule Makers, Rule Breakers," I do know their portfolios of the same name pay one heck of a lot less attention to valuations than when the Motley Fool went online more than four years ago.

Ignoring valuations does seem to be the sign of the times. Yet every once in awhile the die-hard valuation junkies like me are vindicated when an AMZN drops 50% in two weeks as just happened.

--Mike Buckley

--Mike Buckley
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