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

To: BGR who wrote (79058)	4/5/2000 11:43:00 AM
From: Skeeter Bug	Read Replies (1) \| Respond to of 132070

>>I believe that the only smart way to invest is to acknowledge the inevitable - that in the long run the market is smarter than every single one of us taken individually.<< bgr, didn't you take statistics in college? ever heard of a distribution? everyone below the avg? smart? i see you are one of the some who are confused. btw, the dumbest folks do well in the short run and the smartest folks do well in the long run. the long run doesn't work against smart folks as you've stated. tiger fund management went bust b/c they made a fatal error in judgment. they expected the market to act rationally over the short term and over bet. the irony is that it probably worked for 20-25 years. what did i say about the past? what can bulls paying a dollar to lose money on their investment in an already saturated market learn? hand waving? just b/c you can't answer a matter doesn't make it hand waving. a simple definition of of undervalued is stock that i feel will earn a higher % return on my investment, over the long haul and adjusted for risk, than any other investment alternatives. cisco, for example, used to trade well over $500 billion in market cap (maybe still does) and had $15 billion in revs. that $500 billion could be invested for about 6% will extremely low risk and return $30 billion profit, not $15 billion revs. my guess w/b cisco earns about $2 billion. i'm not giving up $30 billion guaranteed for $2 billion with 50-60% growth in a market i foresee as attracting a LOT of attention in the next 5 years and that has a high % of customers going broke at a high rate. and remember that i get to reinvest my $30 billion, ex taxes, to get a higher $ amount in year 2.