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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Don Lloyd who wrote (70971)	11/24/1999 9:07:00 AM
From: Freedom Fighter	Read Replies (3) \| Respond to of 132070

Don, >>I'm not comfortable with your use of ROC in these arguments.<< Actually, I don't think we disagree about much. Perhaps we have different time frames in our analysis, but other than that I think we agree. I tend to think in terms of 5-10 year periods and sustainable ROC when I invest. That's my style. So I am "presuming" (incorrectly?) that as long as an industry continues to sell products that people desire, the aggregate investment levels will adjust in both directions over time so that the overall industry earns a reasonable return on capital. There are usually some winners, some losers, and some average players depending on specific business advantages, management etc... I'm certain there are exceptions, but overall that seems to be the case in the industries I've observed. I need to think about your scenario a little more though. Wayne