$200! Yes, what is the time frame for that?
And, I really don't understand why anyone would talk about 200 at this point. This sort of talk (i.e., 200, with no fundamental support for such a notion) suggests to me that JDS shares are part of the hi-tech internet bubble. When bubbles get big and stretched thin, any crisis--large or small--can lead to panic selling. Then, the power of emotions that drove the prices higher in the first place drive prices lower. Panic is a powerful emotion and people engage in all manner of unreasonable acts when in its thrall. They even sell shares in companies like JDS at prices well below what is sensible given the fundamental worth of the firm.
There is no reason to believe that the current bubble in internet shares will not burst and result in a panic sell-off of some catastrophic consequence for people who are currently buying on the greater fools theory. Please do not take me wrong. These are simply my humble opinions and my personal worries (albiet expressed publically). I have a great deal of respect for those who post here. But, I think JDS prices reflect a bubble when people buy at current levels with the idea that "it's gone up so much now, I better get in before I miss the next $5 up tick, and besides I can't lose cuz it'l be at 150 or 200 anyway." I think I read this sentiment on this thread sometimes and, if so, that's the greater fools theory blowing up a bubble.
South Seas shares anyone? If anyone is interested, I've got some real good bowling stocks left over from my parents portfolio from the 50s. Or how about some tulips?
Ciao,
David Todtman |
