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

To: Mike Buckley who wrote (47953)	10/16/2001 12:02:52 AM
From: gdichaz	Read Replies (3) \| Respond to of 54805

Mike: As you know, we go back many years and you have my respect for helping me see some of my mistakes in tone, if not content, on the old AOL "Boards". But what I did learn there was that "valuation" was a reason for inaction when action was needed for investment in those companies which were strong in fundamentals, [viz. Cisco] and that the sin qua non for investing is looking ahead not back. So, just to throw the cat among the pigeons, valuation is an excuse to miss the real opportunities that stare us in the face - may I mention Qualcomm - round two. The first was voice, this is data. (Or to be more explicit, video and music and... plus BREW the enabler for applications from gaming to ...., and then wireless devices such as PDA, laptops, desktops, and on and on and.....) IMO of course, and to be taken with buckets of salt - particularly by those who have been so articulate recently re numbers uber alles. (I remain convinced that what matters is extremely difficult to quantify, and what can be quantified has limited usefulness in predicting real world success.) And since we focus on gorillas here, note that Qualcomm has all that is necessary now for mobile data wireless - others do not. Best as always. Cha2

To: Mike Buckley who wrote (47953)	10/16/2001 12:23:30 AM
From: Thomas Mercer-Hursh	Read Replies (2) \| Respond to of 54805

Thomas concluded (many times) that Pirah gave him no more reason to want to use it than in the past. :) Somehow there has been this impression created that I am arguing against valuation or trying to prove it worthless. The exact opposite is the truth. My issue is not whether one should consider valuation, but what tools actually work, and provably so. My hope in this discussion is not to degrade valuation techniques, but to find something in which I can have confidence. Empirically, I bought some things higher than I should have, buoyed by the successes from prior years. I would like to avoid a repeat. And, if it is possible to have a metric for getting out that would be welcome as well. I am just looking for a more solid justification than "I like it".