Mike, when a stock is selling for 4-5 times what it would
sell for otherwise IF they accomplished every possible objective,
I think : SUMTHINGS WRONG
Terry posted a couple of charts earlier of the biotech craze of 1991- 1992.
One survivor, Genzyme, took a good hit from the highs of 1992:
iqc.com
Others were not so lucky:
iqc.com.
iqc.com.
There have been many crazes in the past, Atlantic city in 1978, gold
and oil in 1980, computers in 1983, biotechs in 1992, radio in 1929, yadda yadda yadda.
read this post about aol, and tell me what I am missing:
Message 8744318
AOL is selling for 4-5 times what it would be selling for IF
everything were PERFECT. You know, as compared to reality?
Their only possibility is if they were to sign up the entire world.
There are problems with that.
1. a lot of people hate AOL for their business practices.
2. there are a lot of people that don't want to have anything to do
with the 'net; they are just plain stubborn.
3. a number of advertisers have cut back or eliminated their advertising
on the 'net because they are not effective. So what is left?
4. It ain't that difficult to start a competing service.
It is atypical euphoria, and it is over.
Good luck,
Vitas |
