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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Stock Watcher who wrote (16033)	1/1/2003 8:10:49 AM
From: Dave	Read Replies (1) \| Respond to of 78741

StockWatcher, Again, there are tremendous differences between "growth" and "value". Invision is not a "value" stock since one believes revenues will grow substantially in the next year or two. However, what will happen in year three? Will revenues continue to grow? stabilize? decline? Invision is a classic case where a P/E ratio is not a good estimator of value. While Graham believes that anyone who looks into the future is "speculating", you should realize that building a DCF model on Invision will tell you what its worth.