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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: The Phoenix who wrote (18125)	10/12/1998 11:26:00 AM
From: LindyBill	Respond to of 77400

It's interesting that we have had a lot of discussion from the "fair value" and "too high PE" people lately. I think the discussion of this issue in "The Gorilla game" is one of the best things I have read this year. When you have a company growing at the rate of Cisco and Microsoft, with a "lock" on its market, you would never stay in the company if you used those yardsticks. Their ability to maintain high profits over a long period of time, when their competitors can't, is unique. There is also the effect of the enormous increase in money into the market, (due to prosperity and 401K plans), with a limited number of good companies available, pushing up prices. You can avoid the Ciena's of this world by waiting until they are established. I think most of us got into Cisco in the last three years. We missed the early profit, but we also missed the early risk!