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

To: Seeker of Truth who wrote (44739)	7/20/2001 10:58:20 PM
From: Mike Buckley	Read Replies (1) \| Respond to of 54805

Malcolm, 100, Ethan, Thomas, and all, I'm glad to see the very worthwhile discussion going on about Siebel. Thanks for picking up on the topic I threw out. I hope people will apply the same questions to other stocks in their portfolio. When earnings were doubling in a year should we have assumed that that was the only data to heed? Believing that led to a disastrous loss. My perspective is that earnings were doubling and the stock was quadrupling. Following that relationship in which the stock price was independent of the company's performance, the stock tanked and for good reason; such a relationship can not go on forever. Today the stock is still priced at more than four times the expected rate of growth. Why should anyone believe that relationship will be sustained? It wasn't previously sustained. What's different this time? --Mike Buckley