The Justa & Lars Honors Bob Brinker Investment Club Message Board

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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Allan Harris who wrote (5588)	6/4/1999 11:51:00 AM
From: Carl R.	Read Replies (1) of 15132

Just curious, but in 1926 was FORD selling at 100 times sales? I seriously doubt it. Microsoft in 1986 may have been, I don't know. But while we will be able to look back in 10 years and point out a few companies that today were selling at 100 times sales yet turned out to be good investments, for every company that does turn out to be a good investment, there will be many that won't. (suppose you also bought digital research and borland). I don't like the odds at that kind of PSR. Don't get me wrong. I've traded the "nuts" and bought some at IPO. In fact I'm getting 100 shares of FFIV today. Nevertheless I don't delude myself into thinking that these are investments, only that they are speculations of a very short term nature, and they need to be restricted to a very small portion of my holdings. I recognize that my best hope for profit with these stocks is the greater fool theory. Yes I was a fool to buy MRBA at 50 the other day, but fortunately there were greater fools who a couple days later paid me 59 for it. Carl

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