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Technology Stocks : Safeguard Scientifics SFE
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To: David Lawrence who wrote (2202)1/29/1999 6:13:00 PM
From: michael r potter  Read Replies (2) of 4467
 
Only $55? Why so dour? Some of our associates on the Yahoo thread think it is worth $100--like yesterday. Call the company-call CNBC-maybe the Fed. Chairman could put in a good word since he is enlightened as to the value of internet Do I hear $125? When will they start trading March 50 calls? Has anyone noticed that anything with real value [using antiquated valuation tools] is a dog in this market and the higher the PE, the better the performance--only bettered by those companies with no earnings? That is the long term danger of internet stocks. Earning no money they are valued at a multiple of hope [nirvanah]. As they start earning money, they are at risk of being valued on the basis of profits, current and expected. Going from a 400 P.E. ratio to a mere 100 P E could be an unsettling experience for some. But of course, the growth in earnings will easily compensate for any PE compression. <g> or whatever that symbol is for sarcasm. Can't help it. When I started as a broker, T was going begging with a 10% yield, IBM, the growth darling was a 6% yield, the Dow was 780 and despite begging people to buy, the look I got was one of grave concern for my sanity. The same look I get now from friends [new the market] when I tell them I do not own an internet stock. Fortunately, it is a new era, and we are all destined to be rich. The market giveth and it is good. More <g s> Maybe Feb. and March are not destined to giveth quite so generously IMHO. Have a good weekend. Curmudgeon Mike
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