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

To: MikeM54321 who wrote (7765)	4/2/2000 11:29:00 AM
From: Mike Buckley	Read Replies (2) \| Respond to of 9068

CTC, next time hit us with excellent valuation exercises before haircuts. That would be nice. Ahem. I believe Cbuzzlewit did that a few months ago, though I'm not sure of the exact timing. If I remember correctly, the stock is currently at about the same price as when he and I discussed valuation and came to the same conclusion back then. Our point that the stock was not undervalued then (and now) fell on deaf ears when the stock rose 50% to 75% beyond that. There was no question in my mind that the stock was extremely overvalued, but that's not enough reason for me to sell. I've thought Citrix and other stocks have been terrifically overvalued when they went on to double that price. Considering the tax implications and my lousy record of market-timing attempts, I don't sell just because a stock has become temporarily overvalued. Last year the Naz went up 85%. At one point this year it was up at an annualized rate of 245%. Did anyone really think most of the tech stocks we own and follow weren't terrifically overvalued at that time? Did anyone really believe the Naz could grow that fast in fifteen months and NOT be overvalued? And does the fact that it has now fallen 10% cause everyone to believe that these high-tech stocks are now undervalued? I hope not. --Mike Buckley