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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: KY who wrote (222)	2/20/1999 8:17:00 PM
From: Mike Buckley	Read Replies (1) of 54805

Kevin, Any value investors out there sniffing around at SAP? The stock is still trading trading at about twice its expected growth rate. Using traditional value investors' models, I don't think SAP will ever meet the value criteria. That's typical of gorillas. I have cash set aside to buy SAP, but I'm not yet ready. Most of the ERP vendors are having tough times lately. I realize that the market has already dropped SAP's stock 50% since the debut on the NYSE, but I think there's a good chance the market will get downright dismal about ERP vendors. I hope to see the PE multiple at 1.5 times growth, or lower. It may or may not happen, but that's my entry strategy until I see indicators telling me the multiple will never get that low. --Mike Buckley

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