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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 71.08+0.1%Nov 7 9:30 AM EST
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To: The Phoenix who wrote (21648)2/2/1999 4:51:00 PM
From: RetiredNow  Read Replies (3) of 77397
 
Gary, look at it from a management perspective. Chambers gave you insight into what he thinks of the stock's movement just a couple week ago. When asked what he thought, he said that he likes a boring stock, because it's easier to acquire and retain employees.

Right now, no one can dispute the fact that Cisco is overvalued right now (from a historical and fundamental perspective). That is a problem for those of us that don't like the roller coaster. That is a problem for Cisco as it tries to get and keep its employees. The only benefit it has is that it helps Cisco acquire other companies for less stock.

The only people who like the high valuation that Cisco has right now are people who are not long term holders and people who believe that Internet style valuations are here to stay. The rest of us who have been around for awhile and seen Fashions come and go, know that these Internet valuations cannot and willnot sustain themselves.

In the final analysis, the only thing that counts is whether the company is making money or not. All of you who feel that you are geniuses right now because you are making brilliant trades on Internet stocks will be checking yourselves into Day-Traders Anonymous clinics alongside Gamblers Anon and Alcoholics Anon members, when the shit hits the fan.
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