Hi Bob. I am long too, we're on the same side.
Can't keep a hyped stock down you mean! I am long too, but face it Etrade passed any rational valuation long ago.
I am sure you have had that discussion already. But by what standard do you consider EGRP hyped? By old standards, in any case. I hear more and more analysts (see Cramer) who start realizing that eh, maybe the current tools used to valuate stocks are outdated!
Sure, the valuation can look outrageous. But you know, I am in the field of marketing, and I bought EGRP because of their equity/brand value and because I believe they are right on spot with their current strategies (buy market share while it is cheap with outstanding marketing plans). I did not even bother looking at the P/E ratio (I know EGRP does not have one, I mean I did not check much their fundamentals). And I am pretty sure a lot of people do the same, including pros.
Eh, what about that: these days stocks are products, and you buy them in part for their image / intangible benefits, like when you buy most fast moving consumer goods products. And maybe not on product tangible benefits, components, or financial ratios.
Maybe I should consider a career in finance, maybe the key skills traders need now is marketing? |
