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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (7352)	11/29/2002 8:30:50 PM
From: Cary Salsberg	Read Replies (1) \| Respond to of 95487

RE: "...a sum of the parts that creates a whole." I am surprised that you left out the two keys I look to determine: 1. the expected growth rate of the company's market; and 2. the company's competitive position. I would not expect Fleck and others of his ilk to address these because that would require real knowledge and work. Most stocks have long term growth rates assigned by analysts and services like Yahoo list the analysts mean. Nowhere will you see an expectation assigned to these forecasts. Certainly, these are not weighted averages of the product of the projected growth rate and the projected expectation of that growth rate. Factors numbered 1 and 2 above are keys to a company's long term growth rate. The companies that Fleck trashed have high PEs and prices because expectations are very high for their markets and their competitive position with very high confidence levels. That is what quality means and real quality doesn't come cheap. Fleck level quality is worth a yard of good cow dung.