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

To: Thomas Mercer-Hursh who wrote (48143)	10/20/2001 4:22:52 PM
From: Mike Buckley	Read Replies (1) \| Respond to of 54805

Thomas, I don't see valuation based on trailing results being of much use with a gorilla except maybe one firmly on main street. Valuation on projected results may not be predicting, per se, but the difference seems to me to be rather a fine distinction. I'm not going to bother you with a detailed philosophical discussion (because that's not my area of interest), but valuation that excludes thoughts about either the past or the future isn't valid valuation in my mind. That's because, contrary to what some people believe who have never used valuation consistently, qualitative issues affect one's use of the more quantifiable issues. We can't ever understand the qualititative issues of a company or the likelihood of it accomplishing future goals until we understand where the company is today and what got it there. In summary, for me, valuation encompasses both the past and expectations about the future because the two are inextricably linked. --Mike Buckley