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

To: Pink Minion who wrote (11561)	9/11/2003 2:58:54 PM
From: BWAC	Respond to of 95616

<So valuation of stocks probably are in a different era of valuations.> Absolutely. And it is different this time too by the way. Valuation doesn't matter until it does. As long as it goes up from X, the valuation was not high enough. You can't use simple arithmetic to set sound, theoretical, or historical valuation ranges because you don't have the formulas for the hype factor or the pile in chart says up factor. Please stop trying. The buy and sell button is to your right. It says "enter". Hit it repeatedly. Continue as long as it keeps going your way. It connects you electronically to the next 'bigger' fool waiting in line for new highs to buy.

To: Pink Minion who wrote (11561)	9/11/2003 3:01:19 PM
From: Cary Salsberg	Respond to of 95616

RE: "Yea, that history does get in the way. So you're saying "it's different" this time..." History doesn't get in the way. The problem is that it is never that same this time and it is never completely different this time. That makes it a problem beyond the ability of most. When is 10 times sales a great deal? When that after tax return on sales is 40% and the long term growth rate is 25%, and both are very reliable. In this case 10 times sales is a 25 PE and the PEG is 1.0.