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Technology Stocks : Citrix Systems (CTXS) -- Ignore unavailable to you. Want to Upgrade?

To: Chuzzlewit who wrote (7323)	12/3/1999 10:30:00 PM
From: Mike Buckley	Read Replies (1) \| Respond to of 9068

OFF TOPIC Chuzzlewit, That should tell you that investors are not paying any attention to the old rules of valuation. My anecdotal evidence is that most tech investors aren't paying attention to any kind of valuation. People are using the term "undervalued" to mean the stock will be higher a year from now than it is today. I'm not concerned about a tech correction because I've lived at least through the small-cap correction in 1998. I don't try to time the market. But I'm not keepling a blind eye toward what happened in the '70s either. I agree with you that the mentality that apparently created the Nifty Fifty (I say "apparently" because it was before I became an investor) is the same mentality that is creating the wild valuations today. I'm not sure the end result will be nearly so calamitous though. Another reason the valuations are getting so high is because we've been living in a dream-world economy: low inflation, moderate growth, and low unemployment. Though companies' earnings haven't been growing as fast as the stock prices, the earnings and revenue have been growing at a very healthy rate for a long time. --Mike Buckley