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Strategies & Market Trends : Waiting for the big Kahuna

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To: Haim R. Branisteanu who wrote (37547)	2/20/1999 10:41:00 AM
From: Kip518	Read Replies (1) of 94695

There's another old story -- about the two historians standing on a bluff overlooking the Waterloo battlefield. One says the spot is important because the great Napoleon had stood there. "No," the second replies. "It is important because Napoleon can never stand here again." After its spectacular rise in the 'Twenties, RCA stock crashed below 10, an ignominious level at which it still stood in 1947. In 1960, with a $1 dividend, earnings of $1.97 a share and a strong position in TV receiver sales and with its NBC network doing well, RCA traded as high as 78. But by the mid-1980s, prior to its takeover by General Electric, RCA had fallen back into the low 40s. In other words, when it had nothing but promise, RCA was a $573 stock. Three decades after the promise was realized, it was going for less than half its 1929 high. Think about that when trying to assess the prospects for some of today's highflyers. interactive.wsj.com (subscription required)

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