Off Topic
I'm in EMC and UNPH with you, and the same process that led me to those two has Qualcomm on my screen. However, while UNPH looked like a good buy at 105 three weeks ago, at 140 its a grown a lot riskier. Is Qualcomm too far gone? Or, do you still see it as a reasonable acquisition for a long term investor?
See, I don't see EMC as pricey right here, it's a leader with trailing and forward growth in the 35-40%+ range which are the type of companies I look for (See TLAB, CPWR, GPS, DELL). They command higher multiples. We have to pay for reward in the face of lower risk.
UNPH and Qualcomm, on the other hand are not yet leaders (or their areas are just developing), nor do they have established or earnings and revenues at that level, only projected ones. With greater risk, their prices and purchases should be at lower multiples given history and projections.
I guess what I'm saying is that I have to be pretty comfortable that companies like UNPH and Qualcomm are developing gorillas in order to buy in at their prices, and I'm still not so comfortable on Qualcomm. Guess I'll take your advice and do some low level DD via the bookmark, and more serious research through more serious avenues. And, if you have anything else regarding them that you can throw my way, I'm all ears, ...err eyes. |
