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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Tulvio Durand who wrote (1915)	2/15/2001 10:54:07 PM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

Hello Tulvio, I agree with you absolutely that technology progress has made a dramatic difference in living standards for some time now. I have all the latest gadgets and switch desktop, laptop and palm top more frequently than purchasing clothing (I buy clothing once every 18 months from Lands End and Timber Land). Issue, how did the one time numerous companies make a dollar from railroads, radio, TV, etc etc. Many did not, to their loyal steadfast investors chagrin. I can guesstimate at the amount CSCO is making off my wallet, and it can not be much, and thus the aggregate feeding rate summed across all folks has a natural upper limit. Throw in some competition, some unceratinty, and CSCO will never grow to justify the expectations imbedded in CSCO valuation ... current valuation. Investment is about correctly estimating free cash flow. Speculation is about imagining what expectation could be. <<... cynical view ... making a buck>> I do not now own CSCO and I have never shorted CSCO. I do not deride tech development, even as I stated that most tech companies are cyclical producers of eventual commodity. I merely trade CSCO occasionally. I am motivated to post as I am motivated to jog, swim and scuba dive. I enjoy the exchange and SI could use the free content. There is a world of difference between cynical and suspicious. Cynical does not earn dollars, suspicion keeps one alive. I do appreciate different approaches and part of that appreciation shows through the fact that I keep coming back to SI, to read as well as post. Having said all of the above, I do agree with your observation that there are violators on SI, and while I enjoy the read, I tend not to participate. Chugs, Jay