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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: John Stichnoth who wrote (15261)	1/16/2000 3:35:00 AM
From: LindyBill	Respond to of 54805

I think what we have going on is a higher, permanent, values for stocks vs. fixed income investments. Mr. Market is finally realizing that stocks have been undervalued compared to bonds, and that High growth stocks have been even more undervalued. Yes, there is a lot of euphoria in the market, and yes, we will have a downturn at some time, but I am saying that we will correct to higher PE's than we started out with 10 years ago. So we are going to be buying stocks at PE's that would have made our hair stand on end 10 years ago. We can argue about what is a fair price, and what is overpriced, until the cows come home, but the "invisible hand" is going to determine this price for us.

To: John Stichnoth who wrote (15261)	1/16/2000 5:14:00 PM
From: Mike Buckley	Respond to of 54805

John, At some point some discrimination must occur. A bowling alley stock that is priced like a bowling alley can be a terrific investment. One that is priced as a Gorilla, before the tornado, can't be as good an investment. The stock's price appreciation is already much further along the S-curve. That's part of the reason you've never seen anything coming from my keyboard along the lines of "It's never too late to buy a Gorilla." For me, the value of Project Hunt (or Project Wild Kingdom, whatever we call it) is that people will be able to take a look at various games in various stages of development. It might be that one would decide on a particular investment purely because of the way the stock is priced if all other things are relatively equal. --Mike Buckley