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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: Mephisto who wrote (18090)	7/22/1999 7:34:00 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 64865

Mephisto great earning so what?? P/E is what matters replacement value is the key, free cashflow to support those stock prices nothing is there. It is cheaper today to build a business from scratch than buying it for cash in the stock market. All M&A activities are in stock or stock equivalents not in cash so valuation are out of sight. In early 1980's most M&A deals were in cash provided by banks they called them LBO's then the valuation were right not now. BWDIK Haim