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Technology Stocks : Apple Inc. -- Ignore unavailable to you. Want to Upgrade?

To: HerbVic who wrote (10178)	3/26/1998 3:43:00 PM
From: Mfcheal	Respond to of 213176

Herb & all, Time to put the cider down, lads. I think Leonardo is close to right on the numbers & I must say I never factored the idea of SJ jumping Pixar for Aapl. (more anon if anyone's interested). So I apologise for my earlier post, though I still think he doesn't want to put in more than 40hrs p.w. anywhere, longterm. With similarities of background, I can personally appreciate this. Back to the cider. Where I come from, cider is what hooligans drink in the public parks after dark. So it's time we ordered ourselves some decent calvados. I'll see if I can look up a vintage good enough to compliment appl's next month. <snigger> May as well drink ourselves to death on the best apple derivative available if we're all going to be down to ten bucks by the end of the year. (BTW, what Lego do some of these posters play with?) What the hell, the shorts can pay for our pleasures, soon. cheers M¡che l PS - The shorts are back today and yesterday, after their Steve Jobs takes the job scare (if he's ego and nothing but, why does the market get so excited by him). US computer retail figures should be due tomorrow - then we'll have a good idea of our, and their fate.

To: HerbVic who wrote (10178)	3/26/1998 5:25:00 PM
From: VicAppl	Read Replies (1) \| Respond to of 213176

Before I say anything else Herb, let me say that SI did you folks a great disservice by allowing trial memberships. As you probably know, the Yahoo board has all but been taken over by slugs. I've haven't always agreed with some of the posters on this board, but have always been appreciative of the generally civil tone employed by nearly everyone here. I've noticed a marked deterioration in the posts since it's been opened to the public. I suspect that some of those very same slugs who've ruined the Yahoo board, are here under other names (or will be soon). If I had paid for this, I'd be complaining to high heaven. I'd like to answer your question re: investing in April '83, but I'm afraid it would be too off-topic for the others on the board. Suffice it to say that the Dow was at something like 765 on the day I began...buying any stock with a PE above 8 was considered wild speculation. But I hope you'll allow me to make a cautionary point relevant to today's market that harks back to '83. The reason I decided to bet everything I owned on the market back then, was logical, if rather simple-minded. Inflation had been raging long enough in this country so that the cost of nearly everything had tripled. The market, on the other hand, had not moved an inch in all those same years. I reasoned that that situation would have to correct itself and I also believed it had to happen soon. It did. In August of '83 the market exploded and it has barely paused since. The cautionary note is this: The exact opposite situation exists today than existed then. The market has grossly inflated without corresponding inflation in the marketplace. This will eventually and inevitably have to correct. It always has, and it always will. PE ratios are at ridiculous levels (for instance, AOL has a PE of 565 and rising), and no one is paying the slightest attention. Exuberance and the belief that one cannot lose in the stock market is at levels not seen since '29. The most novice investor is playing options as if they were can't lose propositions. Every piece of bad news is shrugged off in a matter of days. I could go on forever in this vein, but you are all bright folks and I'm sure you see where this is going. Apple is the only stock I own at the moment and that's only because I've been following it since it went public and I'm an complete degenerate about buying great stocks after the world beats them down. I simply can't resist. I am fully in Gov't bonds otherwise. I'm sure I've given you way more than you asked for and I apologize in advance to anyone I may have offended by going on like this. In any event, best of luck to everyone. Vic