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Technology Stocks : Alliance Semiconductor
ALSC 0.8100.0%Jul 10 5:00 PM EST
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To: Ram Seetharaman who wrote (4795)4/6/1999 10:53:00 PM
From: PAR  Read Replies (1) of 9582
 
Ram,

I don't like to invest based on book value. Here's an example why not.
Buy a Cray T932 and give it to monkey. Now sell stocks to pay for this 'enterprise', say 1 M shares at a book value of $10. Question, at what price does the enterprise (monkey + Cray) look like a good deal compared to book value? (And don't forget that that Cray is becoming obsolete very fast and you still have the note to pay.)

I'd rather invest in a company that is profitable, or has a high probabliity of becoming very profitable.
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