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Strategies & Market Trends : Gorilla Game Investing in the eWorld -- Ignore unavailable to you. Want to Upgrade?

To: Poet who wrote (799)	11/21/1999 12:00:00 PM
From: Mike Buckley	Read Replies (1) \| Respond to of 1817

Thanks, Poet. Not to beat a dead horse, but I wonder if I'm the only one on the planet who recognizes the difference between the following two statements: "The forces are in place that will propel Company XYZ far into the millenium, ensuring that it's stock will be a lot more valuable ten years from now than it is today." "The company's stock is selling for a price today that is much less than it is worth today. Not tomorrow. Today." When it comes down to it, a stock price is a quantity. It's not a qualitative measurement of a company's value. It's a quantitative measurement. There is a tendency in this vastly bullish market to ignore the quantitative stuff and focus only on the qualitative stuff, a remarkable irony in my mind considering that a stock price is only quantitative. As examples, when I first started following Gemstar a few years ago I presented some arguments showing why the company was at that time quantitatively undervalued. I can't do that today. Simmilarly, when I bought Qualcomm I presented some arguments that showed (for me) the stock was quantitatively undervalued. I can't do that today. Make sense? --Mike Buckley