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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: puborectalis who wrote (97397)	4/16/2000 8:41:00 PM
From: SouthFloridaGuy	Respond to of 108040

I challenge anybody here using fundamental analysis to justify the valuations of many of the hype stocks you tout (ICGE, ARBA, JDSU, EXDS, NTAP, QLGC, SCMR, JNPR, the list goes on. I can already tell you that almost none of you can do it because you have never taken a class on corporate finance. Why do you guys think that just because a stock is 50%, 60%, 70% less, that it is now cheap? A company is worth only what it makes. Many of these companies make nothing and can never do so with their business models. The rest who might make money are so richly valued that they have no room to go up even at current levels. Did it ever occur to you that investment bankers were greedy and wanted to put anything onto the market to get their fees? In the old days almost NONE of the recent IPO's would have even been allowed to go public. On top of that, do you think CSCO or MSFT went to 200+ when they first IPO'd? This is/was/has been sheer market mania. All this has done is to tarnish the Nasdaq as a secondary market. A mere 10 years ago Nasdaq stocks were mostly considered trash - one step above bulletin board, and I think that that mentality is coming back again...sad, very sad.