My feeling,
In truth arguable, is that their product doesn't justify this valuation. There is a lot of talk on industry trends, position, management effectiveness, personnel (and here I need to say I am disturbed by postings on this board and others, and yet don't know how to separate wheat from chaff,) but it does come down to product quality for me, anything else I challenge anybody to quantify. Spectrum rules, and the rest of the line-up matches industry standards of excellence and innovation, and are ahead of the curve. CS seems also to be "technologically" nimble in downtrends and management near-melt-down, which seems to me at these valuations as good an insurance as any in risk investing. Cisco is solid long term, but problem-laden CS at 10 is still unjustified, and it seems to me a good 50% win. Add to that this yummy Voodoo buy-out lottery...
All that through an ignoramus looking glass. |
